Yes, bi-weekly payments still exist, and the benefit comes almost entirely from one extra payment a year. Pay half your mortgage payment every two weeks and you make 26 half-payments a year, which works out to 13 full payments instead of 12. That 13th payment goes straight to principal, and over the life of a 30-year loan it can shave off several years. Paying a couple of weeks early each cycle adds very little on its own; the extra annual payment does the work. You also do not need to buy this as a product. Decades ago, companies mailed offers to run bi-weekly plans for a monthly fee, on the order of twenty dollars just to collect and forward your money. Most servicers now let you set up the equivalent yourself for free, either as a formal bi-weekly plan or as a simple extra principal payment each month. One caveat on priorities. Paying a mortgage down early looks better on a spreadsheet when rates are higher, but our general guidance is to max out tax-advantaged investing first, a 401k and a Roth IRA for example, before pouring extra money into the house. Accelerating the loan is a fine goal once those are handled. It is usually not the first dollar we would deploy, though if paying the house off faster is what lets you sleep at night, that is a valid choice too.