Posted on Nov 18, 2019, 9:36:28 PM GMT
Freedom Mortgage customers can enjoy the convenience of scheduling automatic mortgage payments online! This free feature lets you schedule your mortgage payments to reoccur on a regular basis. Payments will be securely deducted from the bank account you select.
Setting up automatic payments means you don’t need to mail a check or call in a payment every month. This service lets you pay monthly, every other week, or bi-monthly.
Just follow these simple steps below to set up your automatic recurring Freedom Mortgage loan payments. After you set up automatic payments, be sure there is enough money in the bank account each month to make the payment.
Step 1: Sign into Your Freedom Mortgage Online Account
To begin, visit the Freedom Mortgage online account login page. You can also find this page by clicking “Login” on the Freedom Mortgage Home page.
You will need your User Name and Password to log into your account. If you do not yet have a Freedom Mortgage account, please click the “Register Now” button to create one.
Step 2: Select Recurring Payment from the Right Menu
On the Account Details page, select “Recurring Payment” from the right-hand menu. Click to continue. Please note you will need to make your payment for the current month before you set up a recurring payment.
Step 3: Confirm Your Automatic Recurring Payment Amount
Your minimum total monthly payment appears in the upper left corner of the page. Confirm this amount and add any additional principal or escrow payments you wish to make as part of your automatic payment.
Step 4: Select Your Automatic Recurring Payment Frequency
Select how frequently you want your automatic payments to be made. You can set up payments to happen once a month, twice a month, or every two weeks. You will make one additional mortgage payment a year if you select every two weeks as your payment frequency. This can save you interest over the life of your loan and reduce the term of your loan.
You have choices for which days of the month your recurring payments will take place. For example, if you make one payment a month and your payment is due on the first day of the month, you could set up recurring payments to take place on the 27th day of every month.
Step 5: Select the Bank Account You Want to Use to Make Your Payments
Select the bank account from which you want your automatic recurring payments to be made. If you want to add a new bank account, click “NEW PAYMENT METHOD” to begin setting up the account. You can add up to 4 bank accounts.
Step 6: Click “SCHEDULE AUTOMATIC PAYMENT”
Click the “SCHEDULE AUTOMATIC PAYMENT” button and you’re all set! Your recurring payments to Freedom Mortgage will begin.
Do you have questions about your Freedom Mortgage account? Please call our friendly Freedom Mortgage Customer Service representatives at 855-690-5900 or visit our Frequently Asked Questions page.
Once you set up automatic payments, be sure to log into your Freedom Mortgage account every so often to check for notices from our Eagle Eye Program. The Eagle Eye Program monitors rates and looks for ways you can save money or get you cash from your home equity when you need it.