Bi-weekly payments are a convenient option for many people because mortgage payments are split in half and paid every 2 weeks. This can cut off as much as 5 years off your mortgage depending on the rate and balance. It is a free service offered to Wells Fargo Home Mortgage customers.
Your Home® Appreciation Program
Accelerated Ownership PlanSM
The Wells Fargo Accelerated Ownership Plan is an automatic payment program that drafts half your monthly mortgage payment every two weeks. As a result, you:
With a draft every two weeks, you’ll be making 13 monthly payments each year. That extra payment reduces your outstanding loan balance and your interest expense. There are no sign-up or transaction fees associated with the plan and enrolling for the Accelerated Ownership Plan over the phone is easy:
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Terms and conditions may be found at: https://www.wellsfargo.com/mortgage/articles/aop_terms.jhtml
To Learn More, visit: https://www.wellsfargo.com/pdf/mortgage/housingmuscle.pdf
Please note, because no two loans are the same, the best way to set this up is to call the Wells Fargo Customer Service line at 1-800-267-0773 to speak with a representative about your options.