Why did my monthly mortgage payment go up?

Answer: There may be a few reasons why your monthly mortgage payment could go up. First check the type of loan you have- fixed or variable.

There may be a few reasons why your monthly mortgage payment went up:

  1. Check the type of loan you have. Some homeowners believe that they have a fixed-rate mortgage loan, when their loan actually includes an adjustable-rate or some other feature that can cause their payment to change.
  2. If you have an escrow account to pay for property taxes or homeowner’s insurance premiums, a monthly loan payment could go up because your property taxes or homeowner’s insurance premiums went up. Your monthly mortgage payment includes the amount you have to pay into your escrow account, so if your taxes or premiums go up then your payment will also go up.
  3. You may have been assessed fees that affected your monthly payment. Check your mortgage statement or any correspondence you recently received from your lender or servicer. If you still don’t understand why your payment went up, you should call your mortgage servicer and send an information request.

It’s also possible that your mortgage servicer simply made a mistake. If you think your servicer made a mistake, you should send a notice of error to your servicer explaining why you think it made a mistake in calculating your loan payment.


If you have a problem with your mortgage, you can also submit a complaint to the CFPB online or by calling 1-855-411-CFPB (2372).


Use this checklist to see what steps you can take to make sure your mortgage is on the right track.

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