We provide full disclosure of our fee structure.  There are no hidden costs.  This statement contains the total fees involved in implementing the Preferred Biweekly Payment Plan.

First, you need to calculate your savings.  Once you've done that, you'll have an idea of how much it would be worth to you to be able to save the amount shown for your own specific situation.  

Before we get into the details of the fee, keep in mind that you don't have to pay one penny up front to get started saving.  We can deduct our fee from your savings, so there's no reason to wait.  (If you'd rather pay up front and save 10%, we take MasterCard and Visa, as well as personal checks.) 

Here's the deal about our fee - there are two parts to the fee structure.  Our enrollment fee covers the processing of the initial paperwork and setup of the EFTs and is calculated as the equivalent of one biweekly payment.  If your total monthly mortgage payment is currently $1000 per month, then our enrollment fee would be $500*.  If your savings aren't enough to make that seem worthwhile, feel free to call us to make sure you're doing the calculations correctly.  (The only time this should occur is if your mortgage is nearing maturity.)  In general, the savings should FAR outweigh the fee, which should come out to about a penny for each dollar you save.  That's not a bad return on investment.  You won't find that in the stock market, even on the best day!

There is also a debit fee of $3.95 per payment.  That covers the processing of each payment and, in most cases, the online access to your account so that you can see exactly what is going on with your mortgage payment (does your bank provide that?)  This comes out to approximately $100 per year....again, a small price to pay for the savings realized and the peace of mind you'll get from knowing that your payments are being credited correctly.

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*Our minimum fee is $495.