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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:

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.


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. 


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

How to Make Your Payment

From set-it-and-forget-it autopay to budget-focused methods, we offer a variety of free ways to pay your bill. 

Convenient Options


You can schedule payments that will automatically debit every month from your Navy Federal savings, checking or money market savings account. This great option gives you peace of mind knowing that you won't forget to make your payment on time. 

One-Time Payments

You can submit your monthly payment or make an additional principal payment through our mobile app or online banking. Just sign in, select your mortgage and make a payment from the payment dashboard. 

Budget-Focused Methods

  • These mortgage payment options allow you to balance your budget with the rest of your monthly expenses. You can add, change or drop these plans anytime. Plus, they're each:
  • available for conventional mortgages, VA loans and fixed-rate home equity loans 
  • automatically adjustable if your mortgage payment changes after your escrow analysis
  • free of enrollment, transaction and cancellation fees

Budget Easy Pay

The Budget Easy Pay program lets you split your monthly payment into bi-weekly half-payments due on the weekday of your choosing. Once we receive 2 half-payments, your full payment will be applied towards your loan.

With this plan, you'll have 26 half payments during the year. Two of those payments will be applied towards your loan's principal, which will help you pay off your loan faster and save on interest. 

Learn more and enroll in Budget Easy Pay (PDF)

Flex Drafting

To conveniently align with military and government pay dates, the Flex Drafting program lets you split your monthly payment in two.

The first half of your monthly payment will be due on the 15th of the month prior to the due date. The second half will be due on the 1st of the following month. Then, the full payment will be applied towards your loan.  

Learn more and enroll in Flex Drafting (PDF)

You can also make a payment like you've always done, including 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.