We want to help facilitate your budgeting needs, however, our mortgages require payment in full each month in order to process a payment. This means that you cannot pay half of your payment at a time; you must have the full amount for us to process the payment. You may take partial payments which will be held in an unapplied account until you have remitted enough to make the full payment, but this will not stop late fees from accruing.
We also understand that some members want to take advantage of the interest savings that a bi-weekly payment option offers. Making thirteen full payments per year is the equivalent of a bi-weekly mortgage payment option. The easiest way to do this is to pay extra every month by adding 1/12 of your regular payment to the normal payment you make each month (ex.: If your regular payments it $1,200, then 1/12 is $100, so your monthly payment would be $1,300. At the end of the year, you will have made the equivalent of an extra mortgage payment, which ends up saving you the same amount of interest as a bi-weekly payment program.).