Payment FAQ
How do I make a payment to SPS?
We offer several payment options, including online, phone, mail, Western Union and automatic reoccurring payments. See the chart below for details.
| Automatic Payments | Our free Automatic Payment Program provides a convenient, safe and reliable way to make your payment. The funds are automatically deducted from your checking or savings account each month. When you enroll in the program, you may select the day of the month that the deduction is made. Click here for more information. |
|---|---|
| Online | Online payments are fast and convenient, and payments made during business hours are posted the same day. Payments may be withdrawn from your bank account. Credit and debit cards are not accepted. Please note that a fee of up to $5 may be assessed for using this payment method. Click here to make a one-time online payment. |
| Phone | Payments can be made over the phone at (800) 258-8602. You may make a payment through our automated system or by speaking to a representative. Payments will be withdrawn from your bank account, so please have your account and routing number ready. Credit and debit cards are not accepted. Please note that a fee of up to $5 may be assessed for using our automated system or up to $15 when speaking to a representative. |
Personal checks, cashier’s checks and money orders may be mailed to the address below. In order to ensure quick and accurate processing of your payment, please include your SPS account number and your property address.
| |
| Western Union | Payments may be made through Western Union, using the codes below.
|
| Wiring Instruction | Bank wire transfers can be sent using the wiring instructions below.
|
Why is it important that I make my mortgage payment on time?
When you pay your monthly mortgage payment late, a number of things may happen that are not in your best interest, including:
- You may be reported as late to a credit reporting agency. This will have an adverse effect on your credit history, making it more difficult for you to obtain future loans.
- You may be charged a late payment fee.
What happens if I send you more than the amount due for the current month’s payment?
The answer to this question depends on whether you are current on your loan or past due.
- If you are current on your loan, and you pay us more than this month's payment, the excess amount is used to reduce any fee balances first, then the principal balance of your loan. Any time additional money is applied to your principal balance, your loan may be paid off faster, assuming you continue to make your payments on time.
- If your monthly statement shows Past Due Payments, and you pay us more than this month's payment, the excess amount is held in an unapplied balance until the balance reaches the amount of a regularly scheduled principal and interest payment. We then take the amount out of unapplied balance and apply it as a monthly principal and interest payment.