How to Pay Your Bank of America Mortgage
Where to send your Bank of America mortgage payment
Bank of America sends you a payment coupon with your monthly statement, and that coupon shows the exact mailing address for your payment. The address is usually a lockbox — a dedicated processing center, not a branch — so mail goes straight to the payment team. If you have lost the coupon, the address appears on your online account under "Payment Information" or you can call the customer service number on the back of your mortgage statement.
Do not mail a payment to a local branch. Payments sent to the wrong address delay processing and can trigger late fees even if you mailed it on time. The postmark date matters, not the arrival date, so mail your payment at least five business days before the due date to account for postal delays.
Key Takeaways
- Mail payments to the lockbox address on your coupon or in your online account, never to a local branch, and mail at least five business days before the due date.
- Online payments through your Bank of America account process the same day you submit them and carry no fee.
- Automatic payments (autopay) deduct from your checking account on the due date each month and prevent missed payments if your account has sufficient funds.
- Late payments reported to credit bureaus after 30 days past due and trigger a late fee that Bank of America adds to your next statement.
- If you cannot pay on time, contact Bank of America before the due date to discuss options like forbearance or loan modification.
Paying online through your Bank of America account
Log into your Bank of America account online or through the mobile app, navigate to "Payments," and select your mortgage loan. Enter the amount you want to pay and the date you want it to process. Bank of America processes online payments the same business day you submit them if you submit before the cutoff time (usually 8 p.m. Eastern), so the payment reaches your account immediately.
Online payments are free and do not require a coupon. You can pay more than the minimum due, and any extra goes toward principal. If you want to make a one-time payment without setting up autopay, online payment is the fastest and most direct route.
Setting up automatic payments (autopay)
Autopay deducts your mortgage payment from your checking account on the due date each month without you having to log in or mail anything. To set it up, go to your Bank of America account, select your mortgage, and choose "Enroll in AutoPay." You will need to provide your checking account number and routing number. Bank of America will verify the account with two small deposits (usually under $1 each) that appear in your checking account within a few days; you confirm the amounts to complete enrollment.
Autopay is free and removes the risk of forgetting a payment. If your checking account does not have enough funds on the due date, the payment will not go through and you will be charged a late fee. Check your checking account balance regularly or keep a buffer to ensure the payment clears. You can change or cancel autopay anytime through your account settings.
What happens if your payment is late
Bank of America considers a payment late if it arrives after the due date shown on your statement. A late fee is added to your account, usually between $15 and $25 depending on your loan terms, and appears on your next statement. If you are 30 days late, Bank of America reports the late payment to the three credit bureaus (Equifax, Experian, and TransUnion), and it stays on your credit report for seven years.
A single late payment can lower your credit score by 100 points or more, making it harder to borrow money in the future. If you are approaching the due date and cannot pay the full amount, contact Bank of America before the due date. Waiting until after you miss the payment limits your options.
Options if you cannot pay on time
Call Bank of America's loss mitigation team at the number on your statement if you know you will miss a payment or are already behind. They can discuss a forbearance agreement, which temporarily reduces or pauses your payment for a set period (usually three to six months) while you recover financially. Forbearance does not erase the missed payments; instead, they are added to the end of your loan or rolled into a modified payment plan.
Bank of America also offers loan modification, which changes the terms of your mortgage — extending the loan period, lowering the interest rate, or converting an adjustable rate to a fixed rate — to lower your monthly payment permanently. Modification takes longer to process than forbearance (often 30 to 60 days) but is a permanent solution if you cannot afford your current payment.
Do not ignore a missed payment or wait for Bank of America to contact you. Calling first gives you more options and shows the lender you are taking the problem seriously. If you are in financial hardship, mention that when you call; it affects which programs the loss mitigation team can offer you.
Paying off your mortgage early
You can pay more than your monthly payment at any time without penalty. Extra payments go directly toward principal, which reduces the total interest you pay and shortens the life of the loan. Some borrowers pay an extra amount each month (for example, an extra $100 on top of the regular payment), while others make a lump-sum payment when they receive a bonus or tax refund.
When you make an extra payment, specify in writing or in the payment memo that it should go toward principal, not toward future payments. If you do not specify, Bank of America may apply it to the next month's due payment instead. You can confirm how the extra payment was applied by checking your account online or calling customer service.
Frequently Asked Questions
How long does it take for a mailed payment to show up in my account?
Mailed payments typically appear in your account within 7 to 10 business days after the postmark date, though it can take longer depending on postal delays. Bank of America processes payments in the order they arrive at the lockbox, so mail early to avoid late fees. If you are cutting it close to the due date, use online payment instead.
Can I pay my Bank of America mortgage from another bank's account?
Yes. You can set up a bill payment through your other bank's online banking system and have them send a check to the lockbox address on your Bank of America statement. Processing time depends on your bank and the postal service, so allow at least 10 business days. Online payment through your Bank of America account is faster if you have one.
What if I pay online but the payment does not show up?
Check your Bank of America account under "Payment History" to confirm the payment was submitted and processed. Online payments show as pending for one business day, then move to posted. If the payment shows as posted but does not appear in your mortgage account, call Bank of America customer service with the transaction confirmation number from your receipt.
Does Bank of America charge a fee for paying by phone?
Bank of America does not charge a fee for phone payments made through their automated system or with a customer service representative. However, third-party payment processors that advertise "quick payment" services may charge a fee. Always pay through Bank of America's official channels (mail, online, autopay, or phone) to avoid extra charges.
Can I change my payment due date?
Bank of America allows you to request a due date change, though the new date must fall between the 1st and the 28th of the month. Call the customer service number on your statement or log into your account to request the change. The new due date typically takes effect within one or two billing cycles. Changing your due date does not change the amount you owe, only when it is due each month.