How to Pay Your PennyMac Mortgage by Phone
Calling PennyMac to pay your mortgage over the phone
PennyMac accepts mortgage payments by phone through their automated system and through a live representative. You call their payment line, provide your loan number and the amount you want to pay, and the payment is processed immediately. The phone number for payments is on your monthly statement or in your online account.
Payments made by phone are typically posted to your account within one business day. If you call before 8 p.m. Eastern time on a business day, the payment usually clears the same day. Calling after hours or on weekends means your payment processes the next business day.
You do not need to set up an account or register in advance. You can call and pay a single time, or you can call every month. There is no fee for paying by phone at PennyMac.
Key Takeaways
- PennyMac's phone payment line accepts payments 24 hours a day, seven days a week, and processes them the same business day if you call before 8 p.m. Eastern time.
- You need your loan number and the payment amount ready when you call, and the system will confirm the payment before it goes through.
- Payments made by phone carry no fee and post to your account within one business day.
- If you want to pay the same amount every month, setting up automatic payments through your online account or by phone is faster than calling each time.
- Your monthly statement and your online account both display the phone number to use for payments.
What information you need before you call
Have your loan number ready. This is the number PennyMac assigned to your mortgage and appears on every statement. If you do not have your statement in front of you, you can log into your online account to find it.
Know the exact amount you want to pay. You can pay your full monthly payment, a partial payment, or extra toward principal. The system will ask you to confirm the amount before processing, so you have a chance to correct it.
If you are calling from a phone number different from the one on file with PennyMac, have your Social Security number or date of birth ready. The system may ask for this to verify your identity.
How the phone payment process works step by step
Call the number on your statement or in your online account. The automated system will greet you and ask whether you want to make a payment or check your account balance.
Select the payment option. The system will ask for your loan number. Enter it using your phone keypad.
Enter the amount you want to pay. The system will read the amount back to you and ask you to confirm. If the amount is wrong, you can correct it before the system processes the payment.
Choose your payment method. PennyMac accepts payments from a checking or savings account (using your routing and account number) or from a debit card. Enter the information the system requests.
The system will confirm that your payment has been accepted and give you a confirmation number. Write this down or take a screenshot. Your payment posts within one business day.
When to use automatic payments instead of calling each month
If you pay the same amount every month, setting up automatic payments saves time. You can set this up through your online account or by calling PennyMac once and authorizing a recurring payment from your bank account.
Automatic payments are deducted on the date you choose each month, usually around the due date. You can change or cancel the automatic payment at any time through your online account or by calling.
Automatic payments do not cost anything and do not require you to call every month. If your payment amount changes — for example, because your property tax or insurance escrow changed — you will need to update the automatic payment amount or switch back to calling.
What happens if you call after the due date
Calling to pay after your due date does not reverse a late fee that PennyMac already charged. Late fees are assessed when a payment is not received by the due date, not when you make the payment.
If you know you will be late, call as soon as possible. Some servicers offer short forbearance or payment plans if you contact them before you miss a payment. PennyMac may be willing to work with you if you reach out early.
If a late fee was charged and you believe it was an error, you can dispute it through your online account or by calling customer service. Keep your confirmation number from the payment call.
Phone payment versus other payment methods
Phone payments work if you need to pay once or occasionally, but they require you to call every time. Online payments through your account are faster if you pay regularly — you can set up automatic payments and never call. Mailing a check takes longer to post and carries the risk that the check is lost or delayed.
Bank transfers (ACH) from your bank account are another option. You can set these up through your bank's bill pay feature, which sends money directly to PennyMac's account. This method does not require you to call or log into PennyMac's website.
If you have questions about which method is best for your situation, PennyMac's customer service can walk you through the options. The phone number is on your statement.
Troubleshooting common phone payment problems
If the system rejects your debit card or bank account information, the most common reason is that the information does not match what your bank has on file. Double-check the routing number and account number. If you are unsure, call your bank to confirm these numbers before trying again.
If you do not receive a confirmation number, the payment did not go through. Call back and try again. Do not assume the payment was processed if you did not hear a confirmation.
If you see the payment charged to your account but it has not posted to your mortgage yet, wait one business day. Payments made by phone typically post within 24 hours. If more than one business day has passed, call PennyMac with your confirmation number to check the status.
Frequently Asked Questions
Is there a fee to pay by phone?
No. PennyMac does not charge a fee for phone payments. The payment goes directly to your mortgage account with no additional cost.
Can I pay someone else's PennyMac mortgage by phone?
No. The system requires the loan number and identity verification, which means only the borrower or an authorized representative can call to pay. If someone else needs to make a payment on your behalf, they should contact PennyMac customer service to discuss options.
What time should I call to make sure my payment posts today?
Call before 8 p.m. Eastern time on a business day (Monday through Friday, excluding holidays). Payments made before this time post the same day. Calls after 8 p.m. or on weekends post the next business day.
Can I pay extra toward principal by phone?
Yes. When the system asks for the payment amount, you can enter more than your regular monthly payment. The extra goes toward principal. Make sure the system confirms the full amount before you authorize it.
What if I need to stop a payment I just made?
If you called within the last few minutes, hang up and call back immediately to speak with a representative. If the payment has already been confirmed and you have a confirmation number, it is too late to stop it — the payment will post within one business day. Contact PennyMac customer service to discuss your options.