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Can You Pay Your Pennymac Mortgage with a Credit Card?
July 1, 2025
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
Quick Answer
No. Pennymac says it does not accept mortgage payments made with a credit card or debit card. Its payment options draw from a bank account or use a check or money order.
Some third-party bill-pay services will charge your card and send the payment to your lender, but they charge a fee and Pennymac doesn't process the card payment itself.
Should You Pay Your Pennymac Mortgage With a Credit Card?
Because Pennymac won't take cards, you'd need a third-party service. Weigh the tradeoffs before you try it.
Potential Benefits
- You may earn rewards if the service codes the charge as a purchase.
- A large payment can help you reach a new card's minimum spending requirement, if you'd pay the mortgage regardless.
Costs and Drawbacks
- Third-party processing fees can cancel out or exceed the rewards you earn.
- Some card issuers treat money-transfer-style payments as cash advances, which usually means a fee and interest starting right away.
- Carrying a mortgage payment on a card means paying credit card interest on your housing cost.
How to Pay Your Pennymac Mortgage
These are the payment methods Pennymac lists on its site:
- Online one-time payment: Log in at pennymac.com or use the mobile app to make a one-time payment from a checking or savings account. Pennymac notes that state restrictions may apply.
- AutoPay: Enroll after logging in to have your payment deducted from your bank account each month.
- By phone: Call (800) 777-4001 to make a one-time payment from a checking or savings account or to speak with a representative.
- By mail: Send a personal check, cashier's check, or money order to your payment processing address, and include your loan number.
- Western Union Quick Collect: Pay at a Western Union location with your loan number. Western Union charges a fee for this service.
Pennymac says it does not accept payments from money transfer apps like MoneyGram.
Impact on Your Credit Score
- Credit utilization: A mortgage payment can take up a large share of your credit limit, which can lower your score until you pay the card down.
- Payment timing: Third-party payments can take several days to reach your servicer. A payment that arrives late could lead to a late fee.
- Hard inquiries: Opening a new card for this adds a hard inquiry, which can cause a small, temporary dip in your score.
Alternative Ways to Pay Your Pennymac Mortgage
Set Up AutoPay
AutoPay deducts your payment from your bank account each month, which is the easiest way to avoid a missed payment. You can enroll after logging in to your Pennymac account.
Pay by Mail
If you prefer paper, mail a check or money order with your loan number to the address on your statement, and allow time for delivery and processing.
Earn Rewards Around Your Mortgage
If you want rewards tied to homeownership, a few newer products are designed for it. Our guide to earning rewards on mortgage payments compares the options.
For everyday spending, the Kudos Explore tool lets you compare cards side by side. Kudos is also a free browser extension and app that recommends which of your cards to use at checkout.
Frequently Asked Questions
Does Pennymac accept credit cards?
No. Pennymac says it does not accept mortgage payments made with a credit card or debit card.
Can I pay Pennymac with a debit card?
No. Pennymac's payment FAQ says debit card payments aren't accepted either. Online and phone payments come from a checking or savings account.
Can I earn rewards on my Pennymac payment?
Only indirectly, through a third-party service that charges your card, and only if your card issuer treats the charge as a purchase. The service fee often outweighs the rewards.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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