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Understanding Your Mortgage Payment

Your mortgage payment is likely one of your largest monthly expenses. See what's included and find the most convenient payment options for you.

What makes up your monthly payment:

The largest piece of your monthly payment is your principal and interest

Principal and Interest

Principal is the amount you pay towards your loan balance, while interest is the cost of borrowing money for your home loan.

The second largest piece of your monthly payment is taxes.


Each month we may collect a fraction of your annual property tax and put it into an escrow account to be paid on your behalf. 

The last piece of your monthly payment is insurance.


We may also collect an amount towards your homeowners insurance and hold it in your escrow account to be paid when it's due. 

Convenient Payment Options

We offer several payment options to help make life a little easier for you.

Easy Pay

Set up automatic payments from the account of your choice.

Budget Easy Pay

Split your monthly amount due into smaller, more frequent payments to reduce the interest you'll pay over the life of your loan.

Learn more about Budget Easy Pay (PDF)

Flex Drafting

Make half your total monthly payment on the 1st and 15th of each month to conveniently align with most military and government pay schedules.

One-Time Payments

Whether submitting your monthly payment or making an additional principal payment, you may sign in to online banking or our mobile app, select your mortgage and click Make a Payment.

You can also make a payment by phone at 1-888-842-6328, or at a Navy Federal branch or ATM.

Manage Your Mortgage Account

For details about your mortgage, sign in to online banking and click on your mortgage account from your Account Summary page. From there, you can also:

  • Enroll in autopay

    Conveniently set up autopay on the Payment Dashboard. You may also make changes to your automatic payment settings if already enrolled.
  • Use interactive tools

    Explore the Payment and My Home Dashboards for tools that will show the impact of paying a little extra every month or making a one-time additional principal payment to help you reach your payoff goals.
  • Pay off your loan

    Ready to pay off your mortgage? Select View Payoff Quote on the Payment Dashboard to obtain your full payoff amount.

Need help? If you're having trouble keeping up with your mortgage payments, we have programs to help.