Mortgage
Info Center - Pay
Down Your Mortgage Faster
Pay Down Your Mortgage Faster
It pays
to know your choices
If you use all of our mortgage features
to their fullest, you could prepay
as much as 20% or more of your original
mortgage balance each year.
Each of the following features is
designed to help you build your home
equity faster and save money over
the life of your mortgage.
Increasing Your Monthly
Payments
You'll be surprised to see how much
faster you can pay off your mortgage.
and the shorter pay-off period can
save you thousands of dollars in interest
over the life of your mortgage!
During the term of your mortgage,
you may be anticipating an increased
cash flow that you could use to pay
down your mortgage. Once in each 12-month
period, you can choose to increase
the amount of your mortgage payments
by as much as 10%, without administration
fees. and the increased payment amount
goes directly toward reducing your
principal. You continue these increased
payments for the remainder of the
term, unless you wish to increase
them again after another 12 months.
Accelerating Your Payment
Schedule It is possible to negotiate!
Offers you this great choice
of payment options:
Monthly
Semi-monthly
Bi-weekly
Weekly
Accelerated bi-weekly
Accelerated weekly
You also have the freedom to choose
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