Bi Weekly Payment Program Guide
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5Bi-Weekly Payment Program Guide
for paying off your mortgage faster
and reducing your total interest costs.
Just enroll in the PNC Mortgage Bi-Weekly Payment Program
As a PNC mortgage borrower, you have the opportunity to enroll in our Bi-Weekly
Payment Program.
Here’s how enrolling in the PNC Mortgage Bi-Weekly Payment Program can benefit you:
• Pay off your loan faster
– By making 1/2 of a monthly payment
every 2 weeks, you will make 13 total monthly payments per year –
instead of 12. The "extra" payment will automatically be applied to
your mortgage principal balance helping you pay off your loan faster.
• Lower your interest costs
– By making one full "extra" payment
per year to pay off your loan faster, you will also be reducing the total
interest you will pay for your mortgage.
Please note that when you make your first 1/2 payment each month, the funds will be held in
a non-interest bearing account, and will be applied once a full monthly payment is received.
>
Enroll today.
Simply fill out and mail the Authorization Form on
the next page of this document to enroll in the Bi-Weekly Payment
Program. Don't forget to include a voided check if drafting from your
checking account.
Once enrollment is complete, you will receive a written confirmation.
This guide also contains information about what happens after you submit your
enrollment form, FAQs to help guide your decision, as well as Terms and Conditions.
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