Pay down your mortgage faster
Flexible mortgage payment features to help pay the way you want to
You're got options
Pine offers several privileges with any mortgage product you have that can help you save on interest costs and pay down your mortgage more quickly.
Annual 20% lump sum payment
Each year*, you can pay up to 20% of your original loan amount (applied to your principal balance) on any regular payment date. Minimum payment amount is $1,000.
Annual 20% payment increase
Each year*, you can choose to increase your regular payment by up to 20% (increased amount applies to your principal balance).
Accelerated payment
Pay 13 months of payments in a 12-month period. By increasing each mortgage payment slightly throughout the year (calculated on what you pay per month), you can pay down your principal more quickly.
Flexibility in how you pay your mortgage
Life and finances can change during your mortgage term, so you may want to adjust how frequently you pay. Pine gives you the flexibility to amend your payment frequency.
Payment frequency: update how often you pay your mortgage — monthly, semi-monthly, accelerated semi-monthly, bi-weekly, accelerated bi-weekly, weekly or accelerated weekly.
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