Program Details
This program gives you the ability create your own customized,
electronic payment plan to help you pay core financial obligations such
as mortgages.
You can realize significant interest savings, build equity
and pay off your mortgage early! Use the Equity Accelerator program to
establish an electronic payment schedule to conveniently pre-pay your
mortgage. Using your own payday cycle, you can carve years off of the
term of your loan and save thousands of dollars in interest payments,
protect yourself from late fees and protect your credit!
Withdrawal Cycles
Here are some of the available cycles with an explanation of how payments
are credited:
| Biweekly One-half of your monthly mortgage payment would be deducted every other week, on the same day of the week, for a total of 26 withdrawals per year. This results in one additional mortgage payment, applied directly to your principal each year, to accelerate the equity growth in your home. |
Semi-monthly Two withdrawals per month, of half your mortgage payment plus 1/24th of a mortgage payment would be deducted from your account on the same dates every month. This achieves the same accelerated equity growth in your home as realized with the biweekly option. |
| Weekly One-fourth of your monthly mortgage payment would be deducted each week, for a total of 52 withdrawals per year. This results in one additional mortgage payment, applied directly to your principal each year, to accelerate the equity growth in your home. |
Monthly Do you get paid only once a month? We can arrange a monthly withdrawal for you as well. One withdrawal, equal to a full month’s mortgage payment plus 1/12th of a mortgage payment, would be deducted from your account by the 3rd of every month. This results in one additional mortgage payment, applied directly to your principal each year, to accelerate the equity growth in your home. |
