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As one of the most costly expenses in your budget, paying your mortgage with a credit card can help to quickly rack up credit card rewards.
Your line of credit may also come in handy if you're in a tight spot and need some extra flexibility with your mortgage payment.
If you're not careful, though, it can also create a slippery slope toward high-interest debt.
Making mortgage payments with a credit card is possible, but — considering the risks and extra steps required — it's probably not worth it for many homeowners.
Here's all the info you need to decide for yourself.
Mortgage lenders don't usually accept credit card payments directly.
Instead, they require homebuyers to set up payments using account and routing numbers from their bank.
For example, if you take out a mortgage loan with Ally Bank, you'll have the following options for making payments: one-time online payment using bank account and routing numbers, automated monthly payments using bank account and routing numbers, payment by phone, and by mail.
On its website, Ally specifies: "Keep in mind, you won't be able to pay with a credit card." Chase also doesn't offer credit cards as a standard form of payment for mortgage loans.
The bank outlines different payment options for homebuyers, which include automatic payments from your checking account, online payments from a non-Chase bank account, online payments from a Chase checking or savings account, check, money order, and phone payments using bank account and routing numbers.
Without access to direct payments, you'll need to take some additional steps to actually submit a mortgage payment with your credit card.
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