Frequently Asked Questions.
- Is it Easy?
Yes. It's automatic! Simply designate a checking or savings account from
which you'd like the transfers to be made. We will set-up a special automated
system that handles it all for you. It makes the transfers from your account
electronically and credits your mortgage on its regular monthly due date, just like clockwork.
- How much will it cost me?
There is a onetime nonrefundable set-up charge of $195.00 ($200.00 savings off the normal $395.00 enrollment fee) and a $2.95 service fee added to each transfer.
- Can my designated account be at any bank?
With a few exceptions, most banking
institutions allow automated drafting from your checking or savings accounts.
- Is this right for everyone?
No, because the transfers are made every other Friday
rather than once a month, our program may not work for everyone.
However, we do offer other programs for special needs.
- How can your Program be so simple and save me so much time & money?
Since there are 26 biweekly payments in a year, each year you will have made the
equivalent of one extra mortgage payment. The extra payment goes to reduce the principal of
your mortgage to help build equity faster so you can pocket more money if you decide to sell.
- Is this Program really hassle free?
Yes! We have dedicated customer service representatives
to support all your needs.