Automatic Mortgage Payment Options

Allows you to schedule automatic withdrawals timed to match your paycheck cycle.

Benefits

• Simplifies budgeting by paying your mortgage automatically
• Conveniently enables you to split payments among four different accounts
• Potentially pay off principal faster if weekly or every other week payments are made
• May reduce the total interest paid over the life of your mortgage loan

How it works

Your mortgage payment withdrawals can be set up to match these available payday cycles:

• Monthly
• Twice a month (1/2 total payment)
• Every other week (1/2 total payment)
• Weekly (1/4 total payment)

If you make your payments monthly or twice a month, you’ll make 12 payments in a year. However, if you make payments weekly or every other week, you’ll make 52 or 13 payments in a year, which can help pay down your mortgage faster.

If you choose the weekly or every-other-week option, withdrawals in addition to the amount needed to cover your monthly mortgage payments will occur 2 to 5 times per year. This can help you pay off your mortgage faster, because once your mortgage is paid ahead by one month, any extra withdrawals will go directly to your principal balance. Twice a month withdrawals do not create additional partial payments that can be applied to reducing your principal loan balance.

What you need to enroll

Any checking or savings account

Enrollment options

• Online: Sign on and use the Transfer & Pay tab to Pay WF Accounts.
• By phone: Read and agree to the Terms and Conditions; and call us at 1-866-386-8519 .
• By fax: Download and complete the enrollment form (PDF); fax it to 1-866-287-6241 .

Convenient online payment features

We have options through Wells Fargo Online ® to make paying your mortgage easier.

Reduced number of years for your early pay-off date and reduced interest paid depends on loan amount, interest rates, and every two weeks or weekly payment plan start time. These plans will not automatically shorten the loan term of any adjustable-rate mortgage (ARM) product.

Other financial institutions may assess excess activity fees on savings accounts. For more information, please refer to your account agreement with that financial institution.

Online Statements require Adobe ® Acrobat ® PDF reader. The length of time Online Statements are available to view and download varies depending on the product: up to 12 months for auto loans; up to 2 years for credit cards, home equity lines of credit, and personal loans and lines of credit; and up to 7 years for deposit accounts, home mortgage accounts, and trust and managed investment accounts. The length of time the specific product statements are available online can be found in Wells Fargo Online ® in Statements & documents. Availability may be affected by your mobile carrier's coverage area. Your mobile carrier’s message and data rates may apply.

Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A.