Where to pay your PennyMac mortgage bill
PennyMac Financial Services lets you pay your mortgage through their online portal, by phone, by mail, or through automatic bank transfers. The fastest and most direct method is logging into your PennyMac account at pennymacusa.com, where you can make a one-time payment immediately. You will need your loan number and bank details if you are paying by electronic transfer.
If you prefer not to use the website, you can call PennyMac's payment line at 1-866-549-3669 to make a payment by phone using a debit card, credit card, or bank account. Payments made by phone are typically processed the same business day if you call before the cutoff time, which varies by time zone.
For mailed payments, send a check or money order to the address shown on your monthly statement. Mail payments take longer to process — usually 7 to 10 business days from the time PennyMac receives them — so mail early if your payment is due soon. PennyMac also accepts automatic payments through your bank's bill pay system or through their own automatic withdrawal program, which you can set up in your online account.
Key Takeaways
- You can pay PennyMac through their website, by phone, by mail, or through automatic bank transfers, and the online portal is the fastest option.
- Phone payments process the same business day if made before the cutoff time, while mailed checks take 7 to 10 business days to clear.
- Your loan number and payment amount are required for any payment method, and you should keep a record of your confirmation number.
- Setting up automatic payments through your bank or PennyMac's system ensures your payment arrives on time and reduces the risk of late fees.
What information you need to have ready
Before you pay, gather your loan number, which appears on your monthly statement and in your online account. You will also need the payment amount due — this is shown on your statement and includes principal, interest, property taxes, homeowners insurance, and mortgage insurance if applicable. If you are paying by bank transfer or automatic withdrawal, have your routing number and account number available.
If you are paying by credit or debit card through the phone line, have the card number and expiration date ready. For mailed payments, write your loan number on the check or money order so PennyMac can match the payment to your account. Keep the confirmation number or receipt you receive after paying — this is your proof of payment if there is ever a dispute about whether the payment arrived.
How automatic payments work with PennyMac
Setting up automatic payments means PennyMac withdraws your monthly payment directly from your bank account on a date you choose. You can set this up through your PennyMac online account by going to the payment settings section and selecting "Automatic Payments." You will provide your bank's routing number and your account number, and PennyMac will verify the account with two small test deposits.
Once automatic payments are active, the withdrawal happens on the same day each month — typically a few days before your due date. If your payment amount changes because of property tax adjustments or insurance changes, PennyMac will withdraw the new amount automatically. You can pause or cancel automatic payments at any time through your account, but doing so means you will need to remember to pay manually each month.
Automatic payments reduce the chance of a late payment because the money leaves your account on a predictable schedule. However, you are responsible for making sure your bank account has enough funds on the withdrawal date. If the withdrawal fails due to insufficient funds, PennyMac will typically attempt the withdrawal again, and you may be charged an overdraft fee by your bank.
Late payment fees and what happens if you miss a due date
If your payment does not arrive by the due date shown on your statement, PennyMac will charge a late fee. The amount of the late fee is set by your loan agreement and is typically a percentage of your monthly payment — often 4 to 5 percent, though this varies. The late fee is added to your next bill, increasing what you owe.
A payment that is 30 days late will appear on your credit report as a 30-day late payment, which damages your credit score. At 60 days late, it becomes a 60-day late payment, and at 90 days late, it becomes a 90-day late payment. Each milestone worsens your credit standing and makes it harder to borrow in the future.
If you fall behind on payments, contact PennyMac as soon as possible. They may offer a loan modification, forbearance agreement, or repayment plan that lets you catch up without losing your home. Waiting until you are several months behind makes these options less likely and increases the risk of foreclosure proceedings.
Payment processing times and when your payment counts as received
The day your payment counts as received depends on the method you use. Online payments and phone payments made before the cutoff time (usually 5 p.m. Eastern) are posted to your account the same business day. Automatic bank withdrawals are processed on the date you selected, and PennyMac receives them within one business day.
Mailed payments are received when they arrive at PennyMac's processing center, not when you mail them. A check mailed on a Monday might not arrive until Thursday or Friday, and then it takes another 1 to 2 business days to be processed and posted to your account. If your due date is coming up, do not rely on mail — use the online portal or phone line instead.
PennyMac's processing center address is on your monthly statement. If you are mailing a payment, use the address listed there, not a general company address, because payments sent to the wrong location will be delayed. Always mail at least 10 business days before your due date to account for postal delays.
Paying extra toward principal
You can pay more than your monthly payment amount to reduce the principal balance of your loan faster. Making extra payments shortens the life of your loan and saves you money on interest over time. To make an extra payment, log into your PennyMac account and select the option to pay more than the minimum, or call the payment line and specify that the extra amount should go toward principal.
Some borrowers make one extra payment per year, while others add a small amount to each monthly payment. Even an extra $50 or $100 per month compounds over the life of a 30-year mortgage. However, check your loan documents to confirm there is no prepayment penalty — most modern mortgages do not have one, but some older loans do.
If you make extra payments, keep records of the confirmation numbers and amounts. This helps you track how much principal you have paid down and protects you if there is ever a discrepancy in your account balance.
Frequently Asked Questions
Can I pay my PennyMac mortgage with a credit card?
PennyMac does not accept credit card payments directly through their website or phone line. However, you can use a third-party payment processor that accepts credit cards and forwards the payment to PennyMac, though these services typically charge a fee of 2 to 3 percent of the payment amount. Your bank's bill pay system may also allow you to pay PennyMac with a credit card if you set it up that way.
What should I do if my payment was posted late even though I paid on time?
Contact PennyMac's customer service with your confirmation number and the date you made the payment. If you can show proof that you paid before the due date, PennyMac may reverse any late fees that were charged. Keep all confirmation numbers and receipts for at least one year.
Can I change my payment due date?
Yes, you can request a due date change through your PennyMac account or by calling customer service. Changing your due date does not change the total amount you owe — it only shifts when the payment is expected each month. Some borrowers align their mortgage due date with their payday to make budgeting easier.
What happens if I pay twice in one month by accident?
The extra payment will be credited to your account as a prepayment toward principal or held as a credit on your next bill, depending on PennyMac's policy. Contact them to clarify how the overpayment was applied and request a refund if you need the money back.