Repayment of loan

RFA allows customers to make several changes in their mortgage plans. For example, they can change the payment day and repayment frequency. Customers can make regular payments monthly, semi-monthly, bi-weekly, or weekly. Payments and other changes can be done within the company’s online portal interface or set up automatic withdrawals. 

Conditions of loan extension

RFA offers customers mortgage renewal solutions. Approximately 60 days prior to the maturity date of customers’ mortgages, a renewal package will be mailed to them. They will need to investigate their renewal package, then initial, sign, and return their renewal offer according to the instructions and deadlines outlined in their renewal package. Also, customers don’t need to requalify for a renewal. The advantage of accepting the renewal offer as opposed to moving their mortgage elsewhere is that customers do not need to re-qualify for a new mortgage at a new financial institution.

Early payoff 

Customers can pay off their mortgages before the end of their mortgage terms. Customers can increase their payments up to 20%. Once per year, customers can increase their regular payment by up to 20%. The increased payment will be applied to your principal balance.