Mortgage payment options that help you manage your budget and pay less interest over time

Consider payment options that help manage your money and pay down your principal faster.

Mortgage Payment Plans

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Your mortgage payment might be one of the largest bills you pay each month. But if you have the ability to budget strategically, you may be able to pay down what you owe on your mortgage more quickly.

If you schedule withdrawals weekly or every two weeks, it will reduce your principal loan balance an additional two to four times per year by applying your partial payment directly to your principal. That’s an additional reduction you’ve earned by making additional partial payments weekly or every two weeks, compared to borrowers who pay once a month or twice a month.

Four different installment approaches are available at no cost through the Wells Fargo Preferred Payment PlanSM. The idea is to simplify payments by scheduling them to be automatically withdrawn from your account, fee-free and timed to match your paycheck cycle. You can choose to pay monthly, twice a month, every two weeks, or every week. The Preferred Payment Plan can also be a way to conveniently enable you to split payments among four different accounts.

Why does the opportunity to pay off principal faster matter? You may be able to pay off your loan ahead of schedule, and you may also reduce the total interest you pay over the life of the loan.

How it works

You match your mortgage payment withdrawal with these available payday cycles:

  • Monthly.
  • Twice a month (one-half of the total payment).
  • Every two weeks (one-half of the total payment).
  • Weekly (one-quarter of the total payment).

Payments made weekly, every two weeks, or twice a month are treated as partial payments and may not be applied to your mortgage until full payment is received. A partial payment is anything less than the total amount due on your monthly billing statement. However, if you schedule withdrawals weekly or every two weeks, we will reduce your principal loan balance two to four times per year by applying your partial payment. Twice a month withdrawals will not reduce your principal loan balance.


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.

Sign on now to enroll in our Preferred Payment PlanSM using the Transfers tab in your Wells Fargo Online® banking session.