Making Mortgage Payments Simple with Umpqua Bank

Paying your mortgage doesn’t have to be a hassle when you bank with Umpqua. As one of the leading community banks in the Pacific Northwest, they make the payment process smooth and simple. This article will break down everything you need to know about making your monthly housing payment through Umpqua Bank.

An Overview of Umpqua Bank’s Mortgage Services

For starters Umpqua offers competitive mortgage rates and a variety of loan programs to meet homebuyer’s needs. Whether your looking to purchase your first home or refinance your existing mortgage, their team of knowledgeable loan officers can help you find the right financing option.

Once you have your mortgage set up, you’ll have multiple ways to make your payments each month. Umpqua offers flexible payment options to fit every schedule and budget. Read on for more details on how and when you can pay your mortgage with Umpqua Bank.

When Your Mortgage Payment is Due Each Month

Before we dive into the different payment methods, let’s review when your monthly mortgage payments are due.

• For most borrowers, mortgage payments must be made on the 1st day of each month
• Your first payment will be due 30-45 days after loan closing
• Payments are due every 30 days based on your specific closing date

If the 1st falls on a weekend or holiday, your payment deadline gets extended to the next business day. Late fees can apply if your payment arrives after the 15th day of the month so be sure to pay on time.

I’ll share some tips below for avoiding late mortgage payments!

Ways to Pay Your Umpqua Bank Mortgage

Umpqua Bank offers multiple convenient ways to get your mortgage payment submitted each month. Here are your top options:

Automatic Payment Deduction

The easiest way to pay your mortgage is by setting up automatic monthly payments. With Umpqua Bank, you can schedule recurring automatic payments from either:

• Your Umpqua checking or savings account
• Your account at another financial institution

By automating your payments, you don’t have to worry about logging in to make transfers every month. The funds will deduct automatically on your payment due date so your mortgage stays in good standing.

To get started, login to Umpqua’s online banking and schedule automatic transfers under “Move Money”. You can select the amount and frequency based on your monthly mortgage amount owed.

Pro Tip: Link your Umpqua account to avoid transfer fees!

Online Banking Payments

If you prefer more control over your payments, Umpqua’s online banking makes it simple to manually pay your mortgage online each month.

Follow these easy steps:

1. Login to your account
2. Under “Move Money,” choose “Make Loan Payment”
3. Select your Mortgage account and enter the payment amount
4. Confirm the transfer details and submit

Online payments arrive immediately so it’s a great option if your payment deadline is approaching. You can also view payment history and track monthly principal balances when you login.

Mail-In Payments

Sending physical checks through the mail represents the most traditional way of paying your mortgage. While it’s less efficient than digital payments, it can be a smart choice if you don’t feel comfortable banking online.

To mail payments, simply send a check payable to Umpqua Bank to the payment address listed on your monthly mortgage statement. Be sure to include your full account number on the check memo and allow 7-10 business days for delivery.

Note: Visit a local branch if you need to make a same-day mortgage payment by check.

In-Person Payments at a Store

In addition to mailing checks, Umpqua Bank allows you to submit mortgage payments at select stores near you. Simply bring cash or a check to one of over 35,000 retail locations across the U.S.

Participating stores include big names like:

• Walmart
• Kroger
• CVS Pharmacy
• Walgreens
• Ace Cash Express

This presents a handy option if you want to pay in physical cash or need to meet a fast payment deadline. Be sure to bring your Umpqua mortgage account number to provide the cashier.

Over the Phone Payments

Lastly, Umpqua’s customer service team allows you to make mortgage payments conveniently over the phone. Simply call 1-866-4UMPQUA and their banking specialists can assist you 24/7.

This method works well if you have questions about your account details or need support completing transfers. However, phone payments don’t arrive as quickly as online so plan accordingly if your due date is near.

Tips to Avoid Late Mortgage Payments

While Umpqua Bank offers flexible mortgage payment options, it’s still essential to pay your loan on time each month. Late or missed payments can negatively impact your credit score and put you at risk for foreclosure.

Follow these tips and best practices to keep payments on schedule:

• Set payment reminders – Mark your calendar or set automated alerts leading up to your due date so it doesn’t sneak up on you.
• Enroll in autopay – As mentioned above, automatic payments help guarantee on-time mortgage transfers each billing cycle.
• Review account alerts – Login to online banking regularly to check for past due notices or payment issues.
• Avoid sending mail on deadlines – Due to inconsistent delivery times, mail payments closer to mid-month to ensure they arrive on time.
• Pay extra when possible – Making additional principal payments allows more flexibility if your budget changes down the road.

Being proactive about tracking payment deadlines will help you maintain positive standing on your Umpqua Bank mortgage. Reach out early if you ever expect to miss or be late on a payment to understand your options.

Closing Thoughts on Umpqua Mortgage Payments

Whether you take advantage of automatic transfers or need to manually pay online each month, Umpqua has you covered. Plus their friendly and experienced mortgage specialists are ready to answer any questions along the way.