Can you pay a mortgage with a credit card? I have been asked this question several times by first time home buyers. Honestly, I think it is a pretty sensible question to ask. We live in a generation where almost everything can be paid for on credit or what if you run into a hard time and need to consider another option for paying your mortgage?
The answer to this question is, it depends on your mortgage company. Not all lenders accept credit card payments and many will advise that you don’t. The mortgage companies that do accept credit card payments are most likely receiving an incentive along with a transaction fee- which will cost you more at the end.
If you do find yourself paying your mortgage with a credit card, you may be directed to a third party in order to process the payment and expect to pay a convenience of at least 2% of your monthly payment.
To learn more about paying your mortgage with a credit card or to see if the option is available to you, contact your mortgage company today.
Thanks for reading!