Is it possible to pay mortgage with credit card

In such.. Paying your rent with a credit card every month is a convenient option that has several.. By Angie Donatoni. Steps to Paying Mortgage with Credit Card Paying mortgage with a credit card is easy when you know where to do this transaction.

Benefits of Paying Mortgage with Credit Card In addition to being easy to set up, paying your mortgage with a credit card helps you better manage your budget.

How much will my mortgage payment be? Is it possible to pay mortgage with American Express? Each party has its own rules. For example, Visa allows mortgage lenders to accept Visa debit and prepaid card payments; Mastercard allows the use of debit and credit cards for mortgage payments. Bank of America credit cards, for instance, cannot be used to pay a mortgage.

Wells Fargo credit card holders may have more luck; their cards can be used to pay a mortgage as long as the mortgage lender accepts them. Otherwise, you run the risk of a late or declined mortgage payment.

If you can navigate the waters to make it possible, paying your mortgage with a credit card is an option, assuming the rewards outweigh the fee. Learn more about how it works. Nerdy tip: Struggling to pay your mortgage? How to pay your mortgage with a credit card. The list is here.

All backed by tons of nerdy research. View the winners. Here are the strategies you may be able to use if you want to pay your mortgage with a credit card. Plastiq is one of the go-to services for paying a mortgage with your credit card — but not all cards are supported. For instance, while Plastiq has relatively few restrictions for Discover and Mastercard users, Visa and American Express credit card holders cannot use the service to make mortgage payments.

If you have an eligible card, all you need to do is open a free Plastiq account. Plastiq will charge your credit card for your mortgage payment — plus a 2. You can then use the money order to pay your mortgage. In the meantime, you may have to make an additional payment immediately to avoid falling further behind on your loan while you wait for the money order to be confirmed.

This could also result in a late fee, potentially negating the rewards you were trying to earn. Prepaid debit card fees vary. You might want to pay your mortgage with a credit card to avoid a late payment or foreclosure , secure a credit card welcome bonus, or earn credit card rewards.

Paying your mortgage with a credit card to avoid foreclosure could seriously backfire. If you cannot make your mortgage payments, the best option is to talk to your lender as soon as possible about forbearance , a loan modification, or refinancing.

In times of financial hardship, paying a mortgage with a credit card can help you buy some time, and even give you the option to pay off a single mortgage payment over several months. With that being said, there are a few instances where it can absolutely make sense to pay your mortgage with a credit card, even if some added fees and steps are involved.

No single credit card is the best option for every family, every purchase or every budget. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers. In that case, you could pay your mortgage with a credit card, pay your credit card bill in full each month to avoid interest and pocket the 0.

If you transfer secured debt at a low rate to an unsecured credit card that charges a ton of interest, you are setting yourself up for a financial disaster. For the most part, it only makes sense to pay your mortgage with plastic if you have the cash in the bank to pay your credit card bill in full each month. If you let your balance linger and the interest starts piling up, any benefit of paying your mortgage with a credit card goes out the window.

While paying your mortgage with a credit card can seem like a pain, there are some scenarios where the added rewards are worth it. But, how do you pay your home loan with a credit card? Here are the two main options you could consider:. Not too long ago, the fee to use Plastiq. While you can use almost any credit card with this service to pay bills like utilities and payments to contractors, there are only a few card types you could use to pay your mortgage specifically with Plastiq.

You could get ahead in several ways. In this scenario you could effectively pay your mortgage through Plastiq. However, you would earn the welcome bonus in the process. While forking over 2. Once you sign up, you can access a referral code you can share with other people. Another option is buying pin-enabled Visa gift cards with your rewards credit card, then using those gift cards to pay for money orders.

Most people can buy pin-enabled gift cards at a grocery store, which can make a ton of sense if you have a grocery store credit card that offers bonus points in this category.