Owning a home is a major milestone. As a Kentucky Housing Corporation (KHC) mortgage holder making timely monthly payments is essential to stay in your home long-term. Read this guide to learn how KHC borrowers can easily pay their mortgage bills online, understand payment options set up autopay, and more.
Kentucky Housing Corporation is a state housing finance agency that provides affordable mortgage loans and down payment assistance to qualifying homebuyers across Kentucky. KHC services over 27,000 single family mortgages and multifamily housing loans.
KHC borrowers make monthly mortgage payments that cover principal, interest, taxes, insurance and escrow amounts. Traditionally, homeowners mailed checks or paid in-person Now, KHC offers online mortgage bill pay for convenient, secure, 24/7 payments
This article will walk through how to:
- Register for online access to your KHC mortgage account
- Make one-time payments
- Setup recurring autopay
- Understand payment processing times
- Avoid late fees
- Get billing help and support
Read on to take control of your KHC mortgage account and simplify payments
Step-by-Step Guide to Paying Your Mortgage Online
Follow these steps to easily pay your KHC mortgage online:
1. Visit KHC’s Online Payment Website
Go to KHC’s payment website. This is the gateway for all online mortgage payments.
2. Click “Make a Payment”
Select the yellow “Make a Payment” button. This will open the payment portal.
3. Register Your KHC Mortgage Account
You’ll need to enter your KHC loan number, last name, and email address the first time you use the site.
4. Create Login Credentials
Setup a unique username and password. This allows you to securely access your account going forward.
5. Select Payment Method
Choose whether to pay by credit/debit card, checking account or savings account. Enter your payment details.
6. Enter Payment Amount
Key in the exact payment amount listed on your latest mortgage statement for your active KHC loan.
7. Confirm Payment Details
Verify your payment info is correct before submitting. Click “Make Payment” to complete the online payment.
You’ll receive an emailed confirmation with receipt after the payment processes.
Ways To Pay Your KHC Mortgage
In addition to online payments, KHC offers these payment options:
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Phone – Call 703-857-2117 or 800-341-5622 (opt. 3) to pay by phone. A $5 fee applies.
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Check by Phone – Provide your bank account details over the phone to debit your checking account. $10 fee.
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Mail – Send a check or money order with your payment coupon to KHC’s lockbox.
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In Person – Visit KHC’s office in Frankfort, KY to drop off cash or check payments.
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Drop Box – Use the 24/7 drop box at KHC’s entrance to deposit checks or money orders.
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Money Order – Purchase a money order made payable to KHC and mail it with your coupon.
Setting Up Automatic Monthly Payments
For worry-free payments, KHC homeowners can enroll in auto-pay through the online payment portal. This automatically deducts your mortgage payment from your specified bank account each month on the due date.
To enroll:
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Login to online payments
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Under “My Profile”, select “Recurring Payments”
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Enter your bank account information
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Specify the payment amount and date
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Check the acknowledgement and click “Submit”
With autopay set up, your KHC mortgage is paid on-time every month without the hassle of remembering.
Payment Processing Times and Late Fees
Understand when your online mortgage payments process to avoid penalties:
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Credit/debit card – Instant processing
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Bank account – Takes 1-3 business days to fully process
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Autopay – Processes on the due date you select
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Mail – Allow 7-10 days for mailed checks to reach KHC
Payments must fully process by your due date to avoid late fees. Online and autopay offer the fastest processing without delays.
Tips to Avoid Late Mortgage Payments
To steer clear of late mortgage payments and penalties, follow these tips:
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Mark your KHC due date on your calendar and set email/app reminders in advance
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Enroll in paperless e-statements to get due date notifications
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Sign up for autopay to guarantee on-time payments every month
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Check your account online to see upcoming due dates and payment requirements
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Update your contact information so KHC can reach you about payments
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Reach out immediately if you anticipate difficulties making a payment due to financial hardship
Troubleshooting Payment Issues
Paying online is typically simple and convenient, but occasional issues can occur:
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Incorrect loan number – Double check your KHC mortgage loan number entered matches your statements.
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Wrong account details – Incorrect routing/account numbers will cause declined payments.
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Insufficient funds – Ensure your linked bank account has enough balance for autopay deductions.
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Website errors – Try refreshing the browser or clearing cache if you experience technical glitches.
For any persistent online payment problems, KHC’s customer service team is available at 502-564-7630 or 800-633-8896.
Frequently Asked Questions About KHC Mortgage Payments
Here are some common questions about paying your KHC mortgage bill online:
Q: Is there a fee to pay my mortgage online?
A: No, KHC does not charge a fee for online or autopay mortgage payments. But phone and check by phone payments incur a small fee.
Q: When is my mortgage considered late?
A: Payments must fully process by your exact due date to avoid late fees. Mail payments take extra days to process.
Q: Can I setup automatic payments?
A: Yes, you can enroll in autopay through the online payment portal to automatically deduct your mortgage payment each month.
Q: How do I update my bank account for autopay?
A: Login online, go to “My Profile” and select “Payment Accounts” to change the bank account linked for automated payments.
Q: What if I sold my home or paid off my KHC mortgage?
A: Notify KHC immediately so they can close your mortgage loan account if it’s been paid off or transferred to a new homeowner.
Conclusion
Registering for online access allows homeowners to make one-time payments, setup autopay, view statements, and get notifications to avoid late mortgage payments. Paying online is secure, fast, and convenient.
Visit KHC’s payment website or contact their mortgage servicing team if you need any assistance getting started with online digital payments today.
Make a copy of your house key.
It never hurts to have a spare, whether you give it to a trusted friend or family member or just keep it in the drawer for emergencies.
Set a reminder on your calendar or in your phone to pay your mortgage.
It is due on the first of every month.