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Typical borrowers make their mortgage payments monthly. Some, however, make bi-weekly payments to reduce the term of their loans. Could weekly mortgage payments speed the payoff even further? The answer in some cases is yesbut usually not much more than with bi-weekly plans.
You can sign up for automatic deduction of your mortgage payments using MT Online Banking. Log in, navigate to your mortgage account information, select View My Mortgage Info, select the Payments section in the top navigation bar, and then choose Auto Draft Payment.
The Auto Draft Payment service automatically drafts your scheduled payment from your bank account.
Get set up to submit direct transmission ACH files with MT and use our ACH Monitor service to confirm the timing and accuracy of payments, enter required control totals, research ACH payments, and receive email notifications on payment activities.
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