1/2 Pay Mortgage®

A Mortgage Shouldn’t Last for a Lifetime

Whether you are buying your first home, upgrading, downsizing, or refinancing, Amboy Bank makes it possible for you to pay off your mortgage faster. Our 1/2 Pay Mortgage® shaves off years of payments, allowing you to build equity faster and save thousands in interest.

With a conventional mortgage, you make one payment every month. But with our 1/2 Pay Mortgage®, you make one half of that payment every two weeks. That’s the equivalent of one extra payment every year, and the savings add up!

Plus, you can now take advantage of our new Change Your Rate Option. If rates go down, simply give us a call, and we will lower your rate. Your first rate change is free within the first three years. And after the third year, you can still call us at anytime to modify your rate for a low fee.

Compare a Traditional Mortgage to Our 1/2 Pay Mortgage®*
  Conventional Mortgage 1/2 Pay Mortgage®
Payment Amount $2,501 monthly $1,250 every 2 weeks
Paid in Full 30 years 23 years
Total Interest Paid $483,312 $376,496
Interest Saved NA $106,816

How Much Can a ½ Pay Mortgage Save You?®

See for yourself!

Watch and Learn

Amboy Bank's 1/2 Pay Mortgage

Looking for More Info and Options?

Terms & Disclosures * Examples based on $417,000 Mortgage with 6.00% APR (Annual Percentage Rate). Actual APR will vary. Available for 1-4 family, owner occupied homes with a minimum of $50,000 and a maximum of $625,000. First lien positions only. Approved applicants responsible at closing for funding interim interest and escrow account for property taxes and insurance. Subject to credit approvals and home appraisal. Additional terms and conditions apply.