The Best Ways to Make a CitiMortgage Payment

CitiMortgage is one of the leading residential mortgage lenders in the country, and it is an affiliate of Citibank Many homeowners have been making their mortgage payments to CitiMortgage for years, and they are enjoying the benefits of building home equity and owning their home as a result of their efforts. If you are new to CitiMortgage, you may be wondering what your options are for making your regular mortgage payments. There are a few points to consider.

Setting Up Easy Payment Options
First, you should research the payment due date for your mortgage, and take note of the date when a late fee will apply to your account. Keep in mind that some payment options will take several days or longer for the payment to be applied to your account. With this in mind, you may need to make your payment ahead of the due date in order to avoid having a late fee applied to your account. Some may be able to adjust the payment due date or schedule biweekly payments if this is more convenient for you, and you can speak with a representative to learn if these options are available to you.

Understanding the Payment Options Available
There are a few different payment options available to homeowners who have a Citimortgage account. The most common payment option that many will use is to mail their payment to the main Citimortgage payment address. If you pay your bill using the bill pay feature through your checking account, you can set up automated payments to be sent on the same date every month so that you never have to worry about making your payments late. If you ever need to overnight your payment to avoid having a late fee incurred, keep in mind that there is a different address to overnight your payment to. CitiMortgage may also be able to process a payment over the phone, and you can speak with a representative about this option.

General Mortgage Payment Tips
Whether you have a CitiMortgage account or another type of mortgage account, you can follow a few general tips for easier account management and debt reduction benefits. One tip is to pay slightly more than required with each payment or to make an extra payment each year if possible. Extra payments will generally be applied to principal unless you specify otherwise. With a mortgage loan, a reduction in principal will result in the final payoff date being moved up as well as in the overall interest charges that are accrued over the life of the loan being reduced. Whether you can afford to make $10 extra dollars each month or you can afford to pay several thousand dollars or more over the course of the year, the impact on your mortgage over the years can be significant.

Work With Your Lender When Facing Challenges
A mortgage may extend for several decades, and over the years, you may face different challenges that could impact your ability to make timely loan payments to CitiMortgage. When you are facing challenges that could result in late or missed mortgage payments, it is best to contact your lender as soon as possible. Some lenders will work with you to help you make adjustments to due dates or to make other accommodations so that you can continue to remain current with your payments. Each situation is unique, so it is important to speak with a representative from CitiMortgage as soon as possible when you are facing financial issues.

Your CitiMortgage may be one of your most significant monthly payments, and you need to make it on time each month to avoid late fees as well as a potential foreclosure. Making payments is relatively easy to do through CitiMortgage because of the many options that are available. It may be best to set up automated payments so that you do not have to worry about late payments.