Frequently Asked Questions: Pay Right Rewards*
When do I start receiving a rate reduction?
After making on-time payments for 12 consecutive months.
What does an on-time payment mean?
Within 30 days of the payment due date.
What happens if I miss a payment?
To qualify for another rate reduction, you need to make 12 consecutive on-time payments once again. You will no longer be able to receive rate reductions after 4 instances of missed on-time payments.
What happens if I want to refinance my loan?
You may qualify for our rate reduction program again, as long as the new loan is another closed-end home equity or home mortgage loan.
