How to access your PennyMac account and pay online
PennyMac is a mortgage servicer that handles loan payments for homeowners whose mortgages it owns or services. To pay your mortgage through PennyMac, you log in at pennymac.com using your username and password, then navigate to the payment section. If you do not have an online account yet, you will need to create one first — this requires your loan number, which appears on your mortgage statement.
The login page is straightforward: enter your username in the first field, your password in the second, and click "Sign In". If you have forgotten either one, PennyMac offers a password reset link on the same page. You can also call PennyMac's customer service line at 1-866-549-3176 if you need help accessing your account or have questions about your loan.
Once logged in, your dashboard shows your loan balance, next payment due date, and payment history. From there, you can make a one-time payment or set up automatic payments. PennyMac accepts payments by bank transfer (ACH), debit card, or credit card, though credit card payments may carry a fee.
Key Takeaways
- You log in at pennymac.com with your username and password; if you do not have an account, you will need your loan number to create one.
- Your loan number appears on your mortgage statement and is required to set up online access.
- PennyMac accepts payments by ACH bank transfer, debit card, or credit card, and credit card payments typically include a processing fee.
- If you forget your password, use the reset link on the login page, or call 1-866-549-3176 for account help.
- One-time payments and automatic recurring payments are both available through your online account.
Creating a PennyMac online account if you do not have one
If you receive a mortgage statement from PennyMac but have never logged in online, you will need to register first. Go to pennymac.com and look for a "Register" or "Create Account" link, usually near the login box. You will be asked for your loan number (found on your statement), your Social Security number, and your date of birth. PennyMac uses this information to verify you are the account holder.
After you submit these details, PennyMac sends a confirmation email to the address on file with your loan. Check your email (including spam folders) for a link to complete registration. Click that link and create a username and password. Your username can be anything you choose, but your password should be strong — PennyMac typically requires at least 8 characters, including uppercase and lowercase letters, a number, and a special character.
Once your account is active, you can log in when ready and view your loan details. It usually takes a few minutes to an hour for a new account to be fully set up, though sometimes it takes longer if PennyMac needs to verify additional information.
Making a one-time payment online
After you log in, look for a "Make a Payment" button or link on your dashboard. Click it to enter payment details. You will see your current loan balance, the amount due, and the due date. You can pay the full amount due, the minimum payment, or any amount in between.
Next, choose your payment method. If you select ACH (bank transfer), you will enter your bank account number and routing number. This method is free and typically takes one to two business days to process. If you choose debit card or credit card, you will enter the card number, expiration date, and CVV. Card payments usually process the same day but carry a fee — the exact fee depends on the card type and is shown before you confirm.
After you enter your payment information, review the details one more time. Make sure the amount, due date, and payment method are correct. Then click "Confirm" or "Submit Payment". PennyMac will show you a confirmation number on screen and send a receipt to your email. Keep this confirmation number in case you need to reference the payment later.
Setting up automatic payments
Automatic payments mean your mortgage payment is withdrawn from your bank account on the same day each month, so you never have to remember to pay. To set this up, log in to your PennyMac account and look for "Autopay", "Automatic Payments", or "Recurring Payments" in the menu. Click that option and choose ACH bank transfer as your payment method — this is the only free option for automatic payments.
Enter your bank account number and routing number, then select the day of the month you want the payment to come out. Most people choose the day after they get paid or the day before their due date. You can also choose the payment amount — either the full amount due each month or a fixed amount you set yourself.
After you confirm, PennyMac will process a small test deposit to your bank account (usually $0.01 to $0.25) within a few business days. Check your bank statement for this deposit and the two small amounts it contains — you will need to enter these amounts back into PennyMac to verify your account. This verification step protects you by confirming that you own the bank account. Once verified, your automatic payments begin the following month.
What to do if you forget your password
On the PennyMac login page, click "Forgot Password?" below the password field. Enter your username or the email address associated with your account. PennyMac will send a password reset link to your email within a few minutes. Click that link and create a new password. Remember that passwords are case-sensitive and must meet PennyMac's requirements (usually 8 characters with uppercase, lowercase, numbers, and a special character).
If you do not receive the reset email, check your spam or junk folder — sometimes it ends up there. If you still cannot find it after 10 minutes, try the reset process again with a different email address if you have one on file. If you remain locked out, call PennyMac customer service at 1-866-549-3176 and they can help you regain access.
Payment timing and when your payment is due
Your mortgage payment due date appears on your statement and in your online account. PennyMac considers a payment on time if it is received by 5 p.m. Eastern time on the due date. If you pay by ACH bank transfer, allow one to two business days for the payment to reach PennyMac, so submit it at least that far in advance. If you pay by debit or credit card, the payment usually posts the same day, but confirm the exact timing when you make the payment.
If your payment arrives after the due date, PennyMac may charge a late fee. The amount of the late fee is set by your loan agreement and appears on your statement. If you know you will be late, contact PennyMac as soon as possible — sometimes they can work with you on timing or payment arrangements, especially if this is your first late payment.
If you set up automatic payments, they will process on the day you chose each month, as long as your bank account has enough funds. If the payment fails because of insufficient funds, PennyMac will attempt to reprocess it, but you may be charged a fee. Check your bank balance before the scheduled payment date to avoid this.
Payment methods and fees
PennyMac offers three ways to pay: ACH bank transfer (free), debit card (fee varies), and credit card (fee varies). The fee for card payments is a percentage of the payment amount and is disclosed before you confirm the payment. For example, a credit card payment might cost 2.5% of the amount you are paying, so a $1,500 payment would include a $37.50 fee. ACH payments have no fee and are the most economical choice if you have time to wait one to two business days.
Some people use credit cards to earn rewards points, and they factor the fee into their decision. If you do this, make sure the rewards value is higher than the fee cost. For automatic payments, PennyMac only offers ACH at no cost — you cannot set up recurring credit or debit card payments.
Frequently Asked Questions
What if I cannot log in to my PennyMac account?
First, check that you are using the correct username and password — passwords are case-sensitive. If you have forgotten your password, use the "Forgot Password?" link on the login page. If you have forgotten your username, call PennyMac at 1-866-549-3176 and they can help you recover it. If your account is locked after too many failed login attempts, wait 15 to 30 minutes and try again, or call customer service.
How long does it take for my payment to show up in my account?
ACH bank transfers typically take one to two business days to post. Card payments usually post the same day. Once posted, your account balance and next due date update automatically. You can see the payment status in your online account under "Payment History" or "Recent Transactions".
Can I pay by phone or mail instead of online?
Yes. You can mail a check to the address on your mortgage statement, or call PennyMac at 1-866-549-3176 to pay by phone using a bank account or card. Phone payments may carry a fee similar to online card payments. Mail payments take longer to process, so send them at least 10 business days before your due date.
What happens if I pay more than the amount due?
The extra amount is applied to your principal balance, which reduces the total interest you pay over the life of the loan and may shorten your loan term. You can see this reflected in your next statement. Some people make extra payments intentionally to pay off their mortgage faster.
Is my payment information find when I log in online?
PennyMac uses encryption and security protocols to protect your login information and payment details. Always make sure you are on the official PennyMac website (pennymac.com) before entering your password or payment information. Do not click links in emails claiming to be from PennyMac unless you initiated contact first — scammers sometimes send fake emails to steal login details.