First Mortgage Loans

Making your payments

• 1. I just closed my loan; when should I expect my Monthly Account Statement (bill)?
• 2. I've lost my Monthly Account Statement and need to make my payment, what do I do?
• 3. Where should I mail my payment if I want to use express mail?
• 4. Will my payment ever increase?
• 5. Can I have my payment automatically withdrawn from my bank account?
• 6. Do you offer a bi-weekly payment program?
• 7. Can I make my payment by phone or quick collect payment?
• 8. How do I make an additional principal payment?
• 9. How do I make a payment online?

1) I just closed my loan, when should I expect my Monthly Account Statement (bill)?

Your first statement will be mailed to you approximately three weeks after the date of your loan closing.

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2) I've lost my Monthly Account Statement and need to make my payment, what do I do?

Use the chart below to determine where your payments should be sent (Make sure to indicate the loan number on the check if you do not have a statement)

If your property is located in…	…send payment to:
Southern CA, Zip codes less than 929XX	GMAC Mortgage P.O. Box 79232 City of Industry, CA 91716-9232
AL, FL, GA, Guam, LA, NC, Puerto Rico, SC, VA, WV, Virgin Islands	GMAC Mortgage P.O. Box 96063 Charlotte, NC 28296-0063
CT, DC (District of Columbia), DE, MA, MD, ME, NH, NJ, NY, PA, RI, VT	GMAC Mortgage P.O. Box 27834 Newark, NJ 07101-7834
AZ, CO, HI, ID, MT, NM, NV, OR, TX, UT, WA, WY and Northern CA with Zip codes equal to or greater than 929XX	GMAC Mortgage P.O. Box 79135 Phoenix, AZ 85062-9135
AK, AR, IA, IL, IN, KS, KY, MI, MN, MO, MS, ND, NE, OH, OK, SD, TN, WI	GMAC Mortgage P.O. Box 9001719 Louisville, KY 40290-0001

You may also choose our "Pay by Phone" option by simply calling 1-800-766-4622 and a Customer Service Representative can assist you.

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3) Where should I mail my payment if I want to use express mail?

GMAC Mortgage
Attn: Payment Processing
3451 Hammond Avenue
Waterloo, IA 50702


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4) Will my payment ever increase?

This depends on your type of loan. If you have a fixed rate loan, your payments for principal and interest are fixed for the full term of the loan. If you have an adjustable rate loan (or any other product which provides for either an increase in the payment or interest rate), your monthly payments could change. Prior to any change in your monthly payment, you will be sent an advance notice. Please note that if an escrow account is being maintained in connection with your account to handle the payment of various escrow items (e.g., taxes, insurance premiums, mortgage insurance premiums), changes in your monthly escrow account may result in an increase in your required monthly payment.

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5) Can I have my payment automatically withdrawn from my bank account?

Yes. GMAC Mortgage offers a plan that will automatically withdraw your monthly mortgage payment directly from the savings or checking account of your choice. It saves postage, time and worry.

You may enroll in this plan by simply completing the reverse side of your monthly account statement and returning the completed form to us along with a voided copy of a check from the designated checking account or a savings deposit slip from the designated savings account. You will be notified when the automatic plan has been activated prior to the first payment being withdrawn from the designated account.

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6) Do you offer a bi-weekly payment program?

Yes. GMAC Mortgage offers a bi-weekly program called BiSaver®. It's an optional automated system that electronically transfers one half of your monthly mortgage payment every two weeks. With BiSaver you can reduce both your total interest expense and pay off your mortgage years earlier. Since there are 26 biweekly periods in a year, each year you will actually have made the equivalent of one extra mortgage payment to reduce your debt. That one extra payment goes directly to principal. To sign up, or for information, call 1-800-368-8800.

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7) Can I make my payment by phone or quick collect payment?

Yes. GMAC Mortgage now offers "Pay by Phone." Simply call us with your bank routing number and checking account number and we'll accept your payment over the phone. To use the service, call 1-800-766-4622 and a Customer Service Representative can assist you.

Our Customer Service Hours are (in eastern standard time)
Monday through Thursday: 8:00 a.m. - 10:00 p.m.
Friday: 8:00 a.m. - 7:30 p.m.
Saturday: 9:00 a.m. - 4:00 p.m.


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8) How do I make an additional principal payment?

Some older originated loans have written agreements in the note that specify a penalty will be applied if the customer chooses to make additional principal payments on their loan. Customers may choose to send additional funds with their monthly payment as additional principal as follows:

Additional principal payments will only be applied if the current months' payment has been applied.

Additional principal payments may be included with your regular monthly payment. Please ensure you note on the mortgage payment coupon the amount to be appropriated to additional principal.

If you wish to send in additional principal payments over the amount of $5,000.00 it may be express mailed to

GMAC Mortgage Corporation
Attention: Payment Processing Department
3451 Hammond Avenue
Waterloo, IA 50702-0780


or by regular mail to

GMAC Mortgage Corporation
ATTN: Payment Processing Department
PO Box 780
Waterloo, IA 50704-0780


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9) How do I make a payment online?

To enroll in OnLine Payment Services you must first register for Account Access. Once registered simply log in to Account Access by entering your User Name and Password. Then select OnLine Payment Services, and then Enroll in Pay OnLine. Click here to register.

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