Should I Set Up Automatic Mortgage Payments?

automate payments Freedom Mortgage HDR - Should I Set Up Automatic Mortgage Payments?

5 Reasons why it may make sense.

Many Freedom Mortgage customers enjoy the convenience of having their mortgage payment deducted directly from their checking account. Why? Automatic mortgage payments provide a host of benefits, and of course, you never need to remember to buy stamps.

Mortgage payments are the perfect bills to automate. Mortgage payments typically don’t vary month-to-month, so automatic payments can help you plan your finances and manage your budget.

Automatic mortgage payments are free and secure. Access traceable payment record anytime online, making balancing your checkbook a breeze.

Set up once and don’t worry about payments again. Initial setup is quicker than ever and can be completed entirely online.

Automatic payments help establish a consistent pay history. Payment history is important to your credit score.

Flexibility to pay your way, whether monthly, semi-monthly or bi-weekly:

  • Monthly Draft (once per month)
    Helps you avoid mail delays and late charges by scheduling your payment within your grace period.
  • Bi-Weekly Draft (every other week)
    Results in one extra principal payment per year, so you’ll be finished with your mortgage sooner and pay less interest over the life of your loan.
  • Semi-Monthly Draft (twice per month)
    Break your monthly mortgage payment into two smaller payments you can coordinate with your paycheck to suit your budget.

Just log in to your account or register at to get started.

Don’t forget, even with automatic payments you should review your bill and make sure your checking account has enough to cover your payments each month. But for many, automatic mortgage payments are a timesaver and powerful tool to help them achieve their financial goals.

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