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Rates & Terms

Payment Frequency

Last updated: October 2026

What is Payment Frequency in Canadian mortgages?

How often mortgage payments are made. Accelerated bi-weekly and accelerated weekly options result in one extra monthly payment per year, reducing amortization by 2-3 years.

What is the Payment Frequency limit for Canadian mortgages?

Options: Monthly, Semi-Monthly, Bi-Weekly, Accelerated Bi-Weekly, Weekly, Accelerated Weekly

Payment Frequency example

Worked example

Accelerated bi-weekly: Monthly payment ÷ 2, paid every 2 weeks = 26 payments/year vs 24 for regular bi-weekly.

Related rates & terms terms

How bips handles Payment Frequency

bips is an AI placement engine for Canadian mortgage brokers. It tests a borrower scenario against 40+ Canadian lenders in about two minutes, applying GDS, TDS, LTV, stress test and CMHC rules to every match. Invite-only.