You’ll need to make payments every other week (every 14 days). Bi-weekly payments reduce your balance faster and help you pay less interest. Compared to monthly payments, it adds up to making at least one extra payment a year knocking time off your loan. And since we encourage you to pay your mortgage off faster, we don’t charge you a fee like many banks to set up bi-weekly payments.
You’ll also need to make all your payments electronically. No paper checks please – this program is not designed to handle them. If we get one, we may charge $50 for each paper check payment received. Keep in mind that some bill pay services still send paper checks, and we will charge for these as well.
Yes, to save time and money you can set up an Automatic Payment Plan and have your payments regularly deducted from your external linked checking account or other Capital One 360 account. Please keep in mind it takes 2 business days to process a payment from your link. To set up your plan:
It’s easy to change or discontinue your recurring payment if your needs should change down the road.
If your needs change and you'd like to discuss your options, give us a call at 1-800-464-9263 and a Mortgage Savings Specialist will be happy to help.
When you update or renew your Homeowner’s Insurance Policy, you’ll need to provide us with the new information. To update your info, just give us a call at 1-866-509-3891 from 8 AM to 5 PM ET, Monday - Friday.
To set up an Automatic Payment Plan:
To delete an Automatic Payment Plan:
Please Note: If you need to edit your existing Automatic Payment Plan, just give us a call at 1-866-509-3906 and an Associate will help you out.