Mortgage is a type of loan for purchasing home or property. People rely on this loan because of many advantages, though some preparations are needed to be completed. There are several companies and financial institutions that provide various mortgages. One of them is Cenlar Mortgage with many branches in several cities. In order to support clients, this company offers Cenlar Mortgage payment options.
What is mortgage payment? As a loan, you should know that client has obligatory to fulfill payment monthly. In mortgage, the amount of money is huge that takes long period to pay off a single loan. As usual, the loan consists of principal balance and its interest based on two types of rates, fixed and adjustable. Term in mortgage for short one is less than fifteen years. For long term, it will spend between fifteen and thirty years to complete all payments.
The payment option is method to support clients in paying their bill monthly. Cenlar payment options consist of several ways, such as online, by phone, and mail. Each way has pros and cons that let clients choosing what the most suitable one at all. For more about these options, you need to read the next sections.
Online Method for Completing Cenlar Mortgage Bill Pay
First method is online payment that becomes necessary for mortgage-based company and other financial institution. Online system uses internet connection to support sending money from borrower to lender. In this method, all transaction relies on internet and supported system to complete the entire process.
Cenlar mortgage bill pay via online is easy, but it requires account. In order to get this account, you have to be a part of company as client. Moreover, Cenlar provides mortgage not only for personal, but also company. There are two types of accounts, borrower and business partner. For personal usage, you can choose to be borrower.
To have account, you also need to register at official website. Open browser from your laptop or computer then go to Cenlar homepage. At the top section, there are some menus, including customer service. Choose it then the dropdown list will show login link. Click it and you are in login area. Choose registration process then complete all forms, including loan number and social security number. Choose username and password then wait for confirmation process. After that, your account is ready to fulfill Cenlar mortgage bill pay.
- Paying bill
The account has many menus and functions. You can obtain information, such as taxes, insurance, payment record, and escrow. To complete Cenlar mortgage pay bill, you have to connect this account with bank saving. The process is simple and easy as long as you know the routing number. After that, you can pay the loan directly using this account.
- Auto pay
Normally, you need to open the browser, connect to internet, login, and then pay. This process seems familiar, but there is a lack that requires attention. What does happen when the payment is late? At online account, you will see pay bill menu that contains information about how much you need to pay and when is the due time. Besides, you can also see the late fee when paying not at the due time.
Sometimes, you pay mortgage late because do not have internet access or forget to check the notification. This is not good sign because late fee forces client to pay more. In order to handle this situation, you can rely on Cenlar mortgage auto pay. This feature is available at account and you can set it, so the payment will go automatically.
In addition, Cenlar mortgage auto pay will work after your account is already connected to bank saving. When the bill is ready, the payment is done immediately as long as there is enough money in you bank saving. This is important thing when deciding to activate auto pay feature for mortgage. You can open bank account specifically for mortgage then route it onto Cenlar mortgage account. Auto pay feature has few benefits such as automatic process, no worry for late fee, and the secure transaction.
Other Payment Methods for Cenlar Mortgage Bill Pay
Cenlar Mortgage pay bill via online is the most convenient thing. However, some people may not be in proper situation to access internet. For example, you have job that leads you to remote area. Unfortunately, you forget to adjust online account into auto pay mode. Instead of searching internet coverage area, it is better to rely on other methods.
- Pay by mail
The oldest way to pay mortgage is by mail. It seems not ordinary for today as the digital era lets mail to be forgotten. Keep in mind that the main letter inside envelopes contains bill and check. In past time, this method was very convenient, but it took much time to reach destination. For some reasons, paying loan by mail is still eligible to consider.
- Pay by phone
Mail is the oldest and not very efficient way, so people relied on phone for paying almost anything, including mortgage. Cenlar mortgage pay by phone is method to complete mortgage bill via phone. Internet cannot replace phone role because it is still capable to handle few things. As similar to mail, phone is suitable when internet is not accessible. However, phone is also what clients choose because it can be accessed every day.
In order to utilize Cenlar Mortgage pay by phone, you must call customer service. Do not forget to inform the loan number to verify that you are the legitimate borrower. The process takes less time, but you need to wait for verification. After that, you will receive statement that’s sent to your home.
- Visit headquarter or branches
Cenlar Mortgage also gives a chance for client who wants to pay mortgage directly. You just ask and look for nearby branch then visit it directly. To make everything easy, call customer service then add your visit as appointment.
Well, online payment is at top list and Cenlar also develops system to expand the application for mobile device. Instead of laptop, you just pay via smartphone or gadget. In Cenlar Mortgage payment options, each method has pros and cons, but the main goal is to support clients.