MRS is a nationwide Mortgage Payoff Acceleration Program (MPAP) that provides homeowners with a much-needed alternative to conventional, costly monthly mortgage payments.
MRS tailors your mortgage payments into a convenient, biweekly schedule. You make 26 payments a year, which is the equivalent of 13 monthly payments instead of 12. This “extra month” of payment is then applied directly to the principal of your home, accelerating your loan payoff and reducing the amount of interest you’ll have to pay.
Making mortgage payments through MRS allows you to:
- Save tens of thousands in interest expense
- Shorten your mortgage payments by years
- Build home equity up to 3x faster