What you need to log in to PennyMac and pay your mortgage

To pay your mortgage through PennyMac's online portal, you will need your loan number and the password you created when you first set up your account. If you do not have an account yet, you can create one at pennymac.com using your loan number and other identifying information from your mortgage documents. Once you are logged in, the payment option appears in your account dashboard — usually labeled "Make a Payment" or "Pay Now."

PennyMac is a mortgage servicer, meaning they collect your monthly payments on behalf of the lender who owns your loan. When you log in and make a payment through their system, the money goes directly to your loan account and is recorded the same day you submit it (though the funds may take one to two business days to fully process, depending on your bank).

Key Takeaways

  • You can create a PennyMac online account at pennymac.com using your loan number and will need that account to pay online.
  • Payments made through the PennyMac portal are recorded when ready but may take one to two business days to clear from your bank.
  • You can set up automatic monthly payments through your account to avoid missing a due date.
  • If you cannot log in, PennyMac's customer service can reset your password or help you create an account over the phone at 1-866-549-5872.

Creating your PennyMac account for the first time

Visit pennymac.com and look for the "Login" or "Sign In" link, usually at the top of the page. Select the option to create a new account. You will be asked to enter your loan number (found on your mortgage statement or closing documents) and other personal information such as your name, date of birth, and the property address. PennyMac will verify this information against their records before allowing you to proceed.

After verification, you will create a username and password. Write these down or save them in a password manager — you will use them every time you log in. Some people use their email address as their username, while others create a separate one. Either works, as long as you remember it. Once your account is active, you can log in when ready and see your loan balance, payment history, and the option to make a payment.

Steps to make a one-time payment after logging in

After you log in to your account, look for a button or link that says "Make a Payment," "Pay Now," or "Submit Payment." Click it. You will be asked how much you want to pay — you can pay your full monthly amount, a partial payment, or an extra amount toward principal. The system will show you what your next due date is and what the minimum payment is, so you can decide.

Next, choose your payment method. PennyMac accepts bank account transfers (ACH), debit cards, and credit cards. Bank transfers are free and usually the fastest. Debit and credit card payments may carry a fee of 2 to 3 percent, depending on the card type. Enter your payment information, review the amount one more time, and submit. You will receive a confirmation number on screen — save or print this for your records.

Setting up automatic payments to avoid missed due dates

If you want PennyMac to withdraw your payment automatically each month, log in and look for "Autopay," "Automatic Payments," or "Recurring Payments" in your account settings. You will link a bank account and choose the date each month when the payment should be taken out. Most people choose the date their paycheck arrives or a few days before their mortgage due date.

Automatic payments remove the risk of forgetting to pay and protect you from late fees. You can change or cancel autopay at any time through your account, and you will receive email reminders before each automatic withdrawal. If your income varies month to month, you can keep autopay off and pay manually when you have the funds — there is no penalty for paying manually instead.

What to do if you cannot log in or forgot your password

If you forget your password, click "Forgot Password" on the PennyMac login page. You will be asked to verify your identity using information from your loan file, and PennyMac will send you a link to reset your password by email. Check your spam folder if you do not see the email within a few minutes.

If you cannot reset your password online or do not remember your username, call PennyMac customer service at 1-866-549-5872. They are open Monday through Friday, 7 a.m. to 7 p.m. Central Time, and Saturday 8 a.m. to 5 p.m. Central Time. Have your loan number and a form of ID ready. A representative can reset your password over the phone or help you create a new account if yours was deleted due to inactivity.

How long it takes for your payment to show up in your account

When you submit a payment through the PennyMac portal, the system records it when ready and assigns it a confirmation number. However, the money does not leave your bank account right away. If you pay by bank transfer (ACH), the withdrawal typically happens within one business day, and the funds appear in PennyMac's account within one to two business days after that. If you pay by debit or credit card, the charge may take one to three business days to post to your card statement.

Your mortgage statement will reflect the payment once PennyMac has received and processed the funds. If your due date is coming up and you are cutting it close, paying at least three business days early reduces the risk of a late fee. If you are already late, paying through the portal will stop additional late fees from accruing, even if the payment has not fully cleared yet — but contact PennyMac to confirm this before relying on it.

Other ways to pay PennyMac if you do not want to use the online portal

You can mail a check to the address on your mortgage statement. Include your loan number on the check so PennyMac can match it to your account. Mailed payments take seven to ten business days to arrive and be processed, so mail your check at least two weeks before your due date to avoid a late fee.

You can also pay by phone by calling 1-866-549-5872 and speaking to a representative. They can take a bank account or card payment over the phone. Some people prefer this method because they can confirm the payment was received and ask questions in real time. Phone payments are free if you use a bank account and may carry a fee for card payments, similar to online card payments.

Frequently Asked Questions

Can I pay PennyMac with a credit card through their website?

Yes, but PennyMac charges a fee of 2 to 3 percent of the payment amount when you use a credit card. Bank transfers (ACH) are free. If you are paying a large amount, the fee can add up quickly, so compare the cost before choosing your payment method.

What happens if I pay more than my monthly mortgage payment?

The extra amount goes toward your principal balance, which reduces the total interest you will pay over the life of the loan. You can make extra payments at any time without penalty. Some people pay extra once a year or whenever they have extra money. PennyMac will show the extra payment on your statement and adjust your loan balance accordingly.

Is my personal information safe when I log in and pay online?

PennyMac uses encryption to protect your login information and payment details. Your account is password-protected, and the website uses the same security standards as banks. Do not share your password with anyone, and log out when you are finished paying, especially if you are using a shared computer.

Can I change my payment due date through my online account?

Your due date is set by your loan agreement and cannot be changed through the online portal. If you want to request a different due date, call PennyMac customer service at 1-866-549-5872. They can discuss options such as loan modification, though changing your due date may affect your loan terms.

What should I do if my payment was submitted but I do not see it in my account?

Check your confirmation number and the date you submitted the payment. If you paid by bank transfer, allow one to two business days for the funds to clear. If more than two business days have passed and the payment still does not appear, call customer service with your confirmation number. They can trace the payment and confirm whether it was received.