Can I pay my mortgage with a credit card?

 Posted by Clyde Gonsalvez on February 6, 2025

Can I Pay My Mortgage with a Credit Card? Everything You Need to Know

If you’ve ever found yourself short on cash before your mortgage payment is due, you might have wondered: Can I pay my mortgage with a credit card?

The short answer is usually no—most lenders do not allow direct mortgage payments via credit card.

Why Mortgage Lenders Don’t Accept Credit Cards

Most lenders prefer direct debit, bank transfers, or BPAY for mortgage repayments. Here’s why they avoid credit card payments:

  • Risk of increased debt – Using a credit card to pay your mortgage could put borrowers in a cycle of debt.
  • Cash advance charges – If a lender did allow it, your credit card provider would likely treat the transaction as a cash advance, meaning higher interest rates and extra fees.

Alternatives for Managing Your Mortgage Repayments

If you’re struggling with mortgage repayments, consider these safer and smarter alternatives:

1. Speak to a Mortgage Broker

A mortgage broker can help you find a better home loan deal, negotiate lower interest rates, or even help you refinance your mortgage to reduce your repayments. If you're facing financial difficulties, a broker can also provide guidance on hardship assistance programs.

2. Negotiate with Your Lender

If you're facing financial hardship, contact your lender as soon as possible. Many banks offer hardship assistance, which may include temporary repayment pauses or reduced payment options.

Final Thoughts

While paying your mortgage with a credit card might seem like a convenient solution, the high fees, interest rates, and potential financial risks make it a poor choice in most cases. Instead, consider speaking with a mortgage broker to explore refinancing options or financial assistance programs that can make your home loan more manageable.

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