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Knowledge Base Article

First mortgage payment FAQs

What are my payment method options? Is it possible to have my mortgage payment set up as payroll deduct?

Payment methods available are:

  • Online Banking Member Transfer
  • Auto-Transfer from a Delta Community CU account
  • Electronic Draft (ACH) *See notes below regarding this payment option.
  • Interactive Voice Response (IVR) Payment

First mortgage loan payments are set up monthly. Payroll deduct, semi-monthly or bi-weekly payment methods are not available. As an alternative, we suggest that you open an Additional Savings Account and have half your payment deposited to this account each pay period. We will then draft the account monthly on the 1st. You can request to open an Additional Savings Account from within Online Banking by clicking on Add an Account under Account Services.

How do I set up a mortgage payment from another financial institution (ACH payments)?

If you would like to pay your mortgage with funds transferred from another financial institution, you can complete our 1st Mortgage Payment form or set up an external accounts transfer through Online Banking.

  • Complete the 1st Mortgage Payment form and return it to Mortgage Servicing. This will allow us to withdraw funds from the other financial institution and deposit them to your Delta Community Savings or Checking Account. After that the funds will be automatically transferred from your Delta Community account to pay the mortgage loan on the due date or the first business day of the month.

Or

  • Transfer funds from another financial institution to your Delta Community Savings or Checking Account by selecting A2A External Transfers from the Transfers tab in Online Banking. A2A transfers allow you to set up a one-time or recurring transfer to your mortgage loan on the due date or any date you choose.

Can I make principal only payments on my mortgage loan?

Delta Community does allow principal payments on your mortgage. There are no prepayment penalties for paying your loan off early. These principal payments can be made several different ways:

  • In the form of a check mailed to:
    • Delta Community Real Estate Department, PO Box 4029, Peachtree City, GA 30269
  • Payment from the self-service IVR phone line: (800) 544-3328 or (404) 715-4725.
  • Transfer via Online Banking:
    1. Log into your account and click on the 'Transfer' tab.
    2. Using the drop-down menu, select the account to transfer the funds from and then choose your Mortgage loan in the Transfer To drop-down menu and enter the Transfer Amount  
    3. Select Make Regular Payment or
      • Apply Extra to Principal to make your regular mortgage payment and post additional funds to principal
      • Pay to Principal to pay to principal only
    4. Enter a memo (optional). In this field, the use of special characters are limited to $ % ( ) > + =
  • If your payment is made by automatic transfer, Delta Community can draft an additional amount to be applied to principal along with your regular mortgage payment.
  • You may also make principal payments at any Delta Community branch location.

I transferred additional funds from my Savings Account to my mortgage. How long before the balance and history payment update will change on the balance page?

There is a 24 hour delay on transfers or payments made to first mortgage loans during the week. Transfers or payments made Monday - Thursday will be reflected on the following business day. Transfers or payments made Friday - Sunday will be reflected on Monday morning unless Monday is a holiday. Transfers or payments made on a holiday will be reflected on the next business day. First mortgage payments are back dated or credited for the date on which the payment was made, not the day that Online Banking shows the updated payment history.