A row of beautifully colored homes.

Payment Options

It is important to make your mortgage payment on time and for the full amount that is due each month.  If you don't pay your mortgage on time or if your payment is for less than the amount that's due, you're in default on your loan. The consequences of default can be costly.

The Federal Trade Commission (FTC), the nation's consumer protection agency, says it's important to understand the costs of default. The agency also stresses that if you're having trouble making your mortgage payments, contact your loan servicer to discuss your options as soon as you can. The longer you wait to call, the fewer options you have.

 

Automated Payments
 

How does the program work?

Once you sign up with Automatic Clearinghouse (ACH), we will automatically deduct your mortgage payment from your designated checking or savings account each month. On your draft date, we will send notification to your bank to transfer the amount of your mortgage payment to us.  A record of the transaction will be included each month on your bank statement and on your mortgage loan account history.

Does ACH cost anything?

There is no charge to setup or use our ACH service.

Can I still make additional principal payments or escrow deposits?

Yes!  If you want to make additional payments, either designate on the ACH application the amount of the principal payment to be withdrawn in addition to your monthly payment, or simply mail a check for the desired amount on or after the day your ACH is drafted.  Your loan must be current in order to process an additional principal payment.  Additional escrow payments can be mailed anytime.  Please include your mortgage account number and the words “additional principal” or “escrow deposit” on the face of your check.

How can I begin this convenient service?

It is very simple.  Just complete the ACH Authorization Form and mail it to us. Please enclose a voided blank check or  a savings account deposit slip with the ACH Authorization Form.  The ACH Authorization Form and your voided check or deposit slip will give us the accurate information we need to begin your ACH service.  The ACH payments will begin the month following receipt of the completed ACH Authorization Form.

Your loan must be current in order to sign up for ACH.

What happens if my Automatic Payment is returned?

If your Automatic Payment is returned due to non-sufficient funds (NSF) in your account or if you fail to advise MBOH of changes in pertinent information, e.g. bank account number, MBOH will not warrant that debits will be posted to your mortgage account in a timely manner.  Any and all assessed  penalties and/or late fees arising from an NSF or the borrower’s failure to provide change notification shall remain the sole responsibility of the borrower.  For each NSF occurrence, MBOH will charge the borrower a $15.00 fee.

Can I cancel the ACH service?

The ACH service may be canceled at any time by sending us a written notice, which must be received in our office at least 5 days prior to your next due date. Alternatively, you may cancel the ACH service by calling (855) 841-2799 and speaking to a Loan Servicing Specialist at least 5 business days prior to your scheduled payment date.

What happens if I change my account or bank?

If you change your bank account or move your checking or savings account to another bank, you need to complete a new ACH Authorization Form and mail it to us, along with a voided blank check or savings account deposit slip at least 5 days before your scheduled draft date. If you fail to notify MBOH, you agree to hold MBOH harmless from any liability or loss associated with the error.

Do you have any further questions?

Contact one of our Loan Servicing Specialists, they will be happy to answer your questions or provide you with more information.

Paying With a Check

 

Remember that it is your responsibility to calculate how many days it will take for your payment to arrive and to send it soon enough so that it arrives on time.

You can mail payments to:

Montana Board of Housing

Attn: Mortgage Servicing Payments

PO Box 200550

Helena, MT 59620-0550

 

Paying With Cash


If you are making a payment in cash, please come to our offices and make your payment in person. This will ensure you get a receipt. Do not mail cash.

We are located at:

301 South Park Avenue, Room 240 (just south of the Lewis & Clark Public Library)

Map to 301 S Park Avenue, Helena MT

 


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HOUSING DIVISION | MONTANA DEPARTMENT OF COMMERCE
301 S. PARK AVE, STE 240 | PO BOX 200528 | HELENA, MT 59620-0528 | P: (406) 841-2840 | F: (406) 841-2841 | TDD: (406) 841-2702 | TOLL FREE: (800) 761-6264