Are you looking for the most convenient way to make your Pennymac Loan payment? Then that’s exactly what this article provides you with as I outline all the payment methods available for you to pay back your loan.
As one of the top home loan servicers and VA lenders in the United States, Pennymac understands how important it is to make the payment process easy and less stressful for borrowers. Which is exactly what they have done by providing at least four or five payment methods from which borrowers can make a choice as to which payment method to use.
READ ALSO: Midwest Loan Services Payment Options
How To Make Pennymac Loan Payment
There are actually about four ways you can pay your Pennymac Loans which I’m going to show you. Go through and use the payment method you’re comfortable with.
You can conveniently pay your loans online by visiting their website and then log in with your username and password to make payment. Your bank account number and routing number will be needed when making payment online.
Click HERE to log in to your online account with your username and password and proceed to make payment.
Pay Over The Phone
Another payment method available to you is to pay over the phone. You can either do so through their Automated Phone System which is available 24/7 or speak with a Customer Service Representative who will take you through the process.
Contact 800.777.4001 to make payment over the phone.
Pay Via Mail
Borrowers can also make payment to Pennymac by sending their check or money order via mail to this address:
PennyMac Loan Services, LLC
P. O. Box 30597
Los Angeles, CA 90030-0597
Overnight Payments Mailing Address
PennyMac Loan Services
Attn: Lockbox Operations
20500 Belshaw Ave.
Carson, CA 90746
Pay Via Mobile App
Payments can also be made to PennyMac via their Mobile App which is available on App Store and Google Play.
READ ALSO: Best Home Loans For Bad Credit
Frequently Asked Questions (FAQ)
Q1. How long does it take for payments to be applied to my account?
It depends on the time of making payments. But basically payments made before 8pm from Monday to Saturday will be processed and should be applied to your account the same day. However, it will be applied to your account if payment is made after 8pm.
Q2. Does PennyMac Loan Services allow payments made with credit card?
No! PennyMac does not accept payments made with your credit card. However you can try the other payment methods listed above.
Q3. How does the Pennymac AutoPay work?
The Pennymac AutoPay system allows you to set up monthly payments for deductions to be made automatically from your bank on each due date.
Q4. What type of account can I use to make a one time payment online?
The one time payment option can only be done with either checking or savings account at the moment.
Q5. How do I make payment online?
You can easily make payments online on their website or the Pennymac Mobile App. Simply log in to your online account and proceed to make payment.
Your bank account number and bank routing number will be required in making payments online.