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When paying off mortgage principal and interest, making timely payments is critical to protecting your credit. JPMorgan Chase, the servicer of Chase home loans, makes it easy with a variety of payment choices.
Read on to learn about your options for making a mortgage payment with Chase.
Chase offers borrowers the following options for making a mortgage payment:
Here are the steps for each available option.
When making a Chase mortgage payment online, you can either pay from a Chase account or an external account.
When setting up an external account as a pay-from account, it might take up to a few days for Chase to authenticate your account. To avoid late fees, complete these steps far in advance of when your payment needs to post.
When making a Chase home mortgage payment by mail, allow five to seven days for your payment to reach Chase by your payment due date:
Making your payment by phone is easy, plus it posts the same day when you make it from a checking account. Here’s what you need to know:
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You can also opt to pay in person. Use the Chase Bank branch locator to find the branch nearest you.
Although you can make one-time online payments, you can also set up free automatic payments for once a month, twice a month or once every two weeks. Making half your payment once every two weeks will allow you to make at least two half payments extra per year, which will help you pay off your mortgage more quickly.
When using another bank’s payment service to make mortgage loan payments to Chase, you’ll need to set up the payments on the other bank’s website. Sometimes banks mail a check instead of processing an online transaction, which means that your payment might not process the same day it’s made. Chase recommends scheduling your payment five to seven business days in advance. Also, if you want to make additional principal or escrow payments, they might not be applied correctly when using a third-party payment service.
Making a mortgage payment to Chase is free. You can incur a late fee, however, if you don’t pay on time. The late fee amount is listed on your statement and is based on your loan amount, property location and the rates found in your agreement.
Although your Chase mortgage rate won’t increase because of a late payment, Chase might report the lack of payment if it’s late by 30 days or more. Cutoff times for payments are 7:30 p.m. EST for payments made online from a Chase account and 8:30 p.m. EST for payments made online from a non-Chase account.
Chase might also charge you a non-sufficient funds fee of $0 to $25 if your payment is returned due to lack of funds.
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Information is accurate as of Feb. 14, 2023.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
