It Works! Here's How...
Every two weeks, one-half of your monthly payment is electronically transferred from your chosen checking or savings account to a newly established checking account in your name at Fifth Third Bank. This translates into 26 half-payments per year and results in an extra month's worth of payments to be collected. The transfer is made through the Federal Reserve System's automated funds transfer system, also known as the Automated Clearing House (ACH).

Each month, at least five (5) days prior to the due date of your loan, a check is automatically created from your account at Fifth Third Bank and sent to your lender to make the monthly payment. These automatic payments eliminate the need for you to write monthly checks.

On the anniversary of your enrollment with the funds accumulated on your behalf is excess of your scheduled monthly payment are paid to your lender to reduce your principal balance. The extra payments are how the payoff of your mortgage is accelerated. For example on a $200,000 loan with a 30-year term at 7% you would save approximately $71,596.33 and pay off your mortgage nearly 7 years quicker.

Your Equity Working for You...
The chart below displays the principal paid through our biweekly program versus a conventional $200,000, 30-year loan at 7% interest.

The difference in equity buildup is dramatic: 

Note: Does not take into consideration any increase in property values.

Your Interest Savings...

*Includes monthly escrows.

FREE MORTGAGE ANALYSIS!