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We've gathered our homeowners' most frequently asked questions about managing their Homepoint mortgage and account. If you can't find the answer online, call us at (800) 686-2404 .

Refinancing a home

To determine whether or not it is a good idea for you to refinance, you should look at your specific situation and your motivation for refinancing. The most common reasons are lower refinance rates and/or payment, convert from an adjustable to a fixed rate, or a cash out refinance to consolidate debt or improve your home.

If your goal is to reduce your rate and payment, you should review your current interest rate and see how much you can save. If you are converting your adjustable rate home loan into a fixed rate. Going this route you may experience an increase in your rate and payment, but you'll get peace of mind knowing your rate will never increase again.

If you are using the equity in your home to consolidate debt, your overall loan balance and payment may go up, but you could save monthly because you will eliminate the monthly obligations that you are paying off. Your mortgage loan officer can run some numbers for you and help you determine if refinancing makes sense for you.

Want more info on when to refinance? Read more:

When to refinance
It depends on what your current interest is and your motivation for refinancing. If your current rate is higher than what is available in the market, it probably makes sense to refinance.
Typically, any second mortgages are paid off through the refinance. You can consolidate both loans into one new first mortgage and you will only have one payment each month.
There are options that may allow you to refinance your loan even if the value of your home is less than what you owe. Call and speak with a dedicated loan officer to see if you qualify.
Fees associated with refinancing vary depending on the type of loan you are looking for, but there are standard fees that are typical across the board. These fees include credit report, title, escrow, appraisal, notary, and recording fees. Aside from the closing fees, there will be prorated pre-paid costs for items such as property taxes, interest, and homeowners insurance (if applicable). If you have enough equity in your home, you may be able to add all fees and pre-paid items into your new home loan amount.

Standard documentation collected for a refinance transaction includes:

  • Income Info
  • Pay stubs covering the most recent 30 days
  • W-2s for the last two years
  • Asset information
  • Bank Statements
  • Investment statements (retirement, stocks, etc)
  • Current loan information
  • Most recent mortgage statement
  • Homeowners insurance declarations page

A refinance could take up to 90 days based on the complexity of the loan. Talking with a dedicated loan officer can give you a better idea of what to expect.

Check out these articles that discuss what you can expect from Homepoint throughout the entire process. .

What to expect during the applicationWhat to expect after closing

Purchasing a home

Buying a home may be right for you because it offers:

  • Predictable Payments: Tired of rent increases? Purchasing a home with a fixed rate mortgage loan adds peace of mind and ensure you lock in a consistent mortgage payment for the duration of your loan.
  • An Investment Opportunity: Unlike a rental, a home is a tangible asset that has the ability to appreciate in value. Plus, you can even rent out a spare room in your home for extra income!
  • Tax Benefits: Put money back in your pocket: Many expenses associated with owning a home, such as property taxes, interest and accounting costs, could all be tax deductible. Consult a tax professional for additional information
  • Personalization Opportunities: Whether it's a simple paint job or an extensive renovation, purchasing a home puts you in control. Plus, any value added to the property goes directly into your pocket.
  • Equity Savings: Each monthly loan payment means greater equity for the home owner. This translates into savings that benefit you, the owner.
  • Lower Monthly Costs: If you crunch the numbers, the monthly cost of owning a home (excluding the down payment and closing costs) is often much less than renting in the majority of U.S. markets.
  1. Get started

    • Review your credit history with Equifax, Experian or TransUnion—or all three—to ensure your credit score and credit history look good. If you discover any issues, don't worry! Now is the time to resolve outstanding issues or strive to raise your credit score.
    • Gather the documents you'll need to begin your loan application:
      • 30 days of pay stubs
      • Two years of tax returns and W-2s
      • Year to date business statements (if you're self-employed)
      • Explanations and paper trail for deposits or withdrawals above $1,000
      • Homeowners insurance quote
      • Information about any additional homes/businesses you own
  2. Determine what you can afford

    It is important to determine what kind of monthly payment you can afford for your mortgage. Use our online calculator to help you establish this price range.

  3. Consider getting pre-approved and review loan plans

    • Meet with a loan officer to determine which loan options make the most sense for you. Do you qualify for a government loan program, such as FHA, VA or USDA?
    • Work with your loan officer to get pre-approved for the loan; this can help let sellers know you are a serious home buyer.
  4. Set shopping priorities

    Determine your "wants" versus your "musts" for your new home. For instance, is there a minimum square footage, bathroom or lot size that your are expecting?

  5. Find a real estate professional

    Seek out a trusted real estate agent who will confidently guide you through the home buying process. They will set up viewing appointments on your behalf and provide you with information about the homes in which you are interested. Your real estate agent should be knowledgeable about your area so they can provide information about schools, crime rates, transportation, etc.

  6. Find a property

    • Look at properties in your price range and explore neighborhoods to see what you like—and what you don't like.
    • Research past home sales around the properties you prefer to determine if they are gaining value each year.
    • Investigate the community and school district to see if this is where you could see yourself living long-term.
    • Visit open houses in your preferred shopping areas or schedule private showings.

Check out these articles that discuss what you can expect from Homepoint throughout the entire process.

Making payments

Homepoint does not accept credit or debit card payments. There are many payment options available to you including paying online or over the phone with a checking account, by mailing a personal check or certified funds, or through Western Union Quick Collect.
You can setup a one-time or automatic payment (Auto Pay) online by selecting “make a payment” in your online account. Certain restrictions apply.
If an online payment is scheduled on a weekend or bank holiday, the payment will be withdrawn on the next business day. All payments are effective dated for the scheduled date of the draft. For example, if you schedule a payment for the 16th and the 16th falls on a weekend or holiday the payment will be withdrawn the next business day. The payment will be effective dated back to the 16th and a late fee will not be charged.
Please note that payments are processed between Monday through Thursday 8:00AM ET to 9:00PM ET, and Friday 8:00AM ET to 7:00PM ET. If you call in after the cutoff time to make a payment, the payment may not be processed until the next business day.
Payments cannot be setup online during a maintenance window including: Daily 10:00PM ET to 12:00AM ET (Midnight) Every Sunday 6:00AM ET to 12:00PM ET (Noon)
If you mistakenly schedule multiple withdrawals online, you should contact your bank to stop the duplicate withdrawal. You can cancel a scheduled payment online prior to the withdrawal date or by calling Customer Service at (800) 686-2404.
The maximum dollar amount of an online payment—both a one-time payment and and automatic payment—cannot exceed $9,999.99
Total principal payment amount must be less than 95% of the unpaid principal balance of a loan.
Please be advised, if you have two instances of Not Sufficient Funds within a 6-month period, you will be required to make payments using certified funds for the following 6 months.

To sign up for Flex Pay, which enrolls you in bi-weekly automatic payments, please download and fill out the Flex Pay form here

Download the form

Automatic payments

You can cancel or modify an automatic payment from your online account or by calling Customer Service at (800) 686-2404. Automatic payment changes can be made up to 10:00 p.m. ET five calendar days prior to the scheduled payment withdrawal date.
Yes, you can change your Auto Pay withdrawal date from your online account.
You can cancel Auto Pay from your online account by going to “recent payments” within “loan details,” or by calling Customer Service at (800) 686-2404. The cancellation must be completed five calendar days before the date the payment is scheduled for withdrawal.
If you cancel your Auto Pay enrollment, you must wait until the next business day to setup a new Auto Pay schedule.
You can add extra principal amount when setting up Auto Pay from your online account, or by calling Customer Service at (800) 686-2404.

In accordance with the terms of your loan, your monthly payment may change if certain situations arise, such as:

  • You have an escrow account and your monthly escrow payment changes as a result of your annual escrow analysis.
  • You have an adjustable rate loan and your interest rate changes as a result of a scheduled interest rate adjustment.

As part of the Auto Pay setup process, you authorize Homepoint to adjust the monthly Auto Pay as changes occur.

One-time payments

You may schedule a one-time payment at any time. Please note: if your payment date falls on a weekend, your payment will not be processed until the next business day.
If you cancel your scheduled payment and wish to schedule a payment for the same withdrawal date, you must wait until the next business day before scheduling the new payment.
You can cancel or modify a one-time payment from your account online until 10 PM (ET) on the day it is scheduled to withdraw, or by calling Customer Service at (800) 686-2404.
In this case, you can cancel the payment, but cannot modify it.

The following reasons may prevent you from modifying your one-time payment:

  • The account is not in good standing, for example: two instances of a “not sufficient funds” payment stop, an active bankruptcy, suspense amounts on the loan, the loan is more than 60 days past due, or you are enrolled in Flex Pay)
  • The total amount due or the fees due have changed since you created the payment and the payment includes fees
You can add additional principal and/or additional escrow to your one-time payment online from within a loan or by calling Customer Service at (800) 686-2404.
You can add additional principal and/or additional escrow only after you paid the current monthly amount due.

Bi-Weekly Payments with Flex Pay

Homepoint offers flexible, biweekly ACH drafts referred to as Flex Pay. This helps you save money in the long run because you are reducing the amount of your loan quicker, therefore reducing the amount of interest charged over the life of your loan. To enroll in FlexPay, please call Customer Service at (800) 686-2404 or download and fill out the Flex Pay form here. Once enrolled, you can see that your enrollment is active online.
Please call Customer Service at (800) 686-2404. You cannot enroll or modify Flex Pay online at this time.
If you are enrolled in Flex Pay, you cannot make a one-time payment or set up automatic payments (Auto Pay). To make changes to your Flex Pay, please call Customer Service at (800) 686-2404.

Monthly statements

You can switch back to mailed monthly paper statements in a few simple steps:

  1. Log in to your account.
  2. Click on your property address.
  3. Navigate to settings
  4. Switch the toggle off next to “Say yes to paperless”
Check out this article on how to read your monthly statements.

Year-end tax reporting

Detailed tax information and payment history is available when you log in to your account online and select the “statements” option.
Your 1098/1099 statements will be mailed by January 31st.
You can stop receiving annual paper 1098 Tax Statements in the mail by selecting the toggling 1098 paperless on under the Loan Details → Settings option from within a loan. You will be able to view and download PDF’s of paperless annual tax statements.
You can switch back to mailed annual paper tax statements by logging in to your account online. Navigate to “loan details” within the “settings” option per loan.
The IRS requires Homepoint to report interest paid exceeding $600 in a calendar year. If your interest paid was less than $600 in the calendar year, Homepoint will not report your interest paid to the IRS. Please consult a tax advisor, accountant, or tax attorney to determine your options for reporting interest.
IRS regulations state: The payer of record is defined as the principal borrower. Even though there may be more than one borrower on the mortgage, the IRS requires Homepoint to prepare the 1098 only for the payer of record. If desired, you should consult a tax advisor, accountant, or tax attorney to determine how you can separate the total interest paid if the primary borrower and co-borrower are filing separate tax returns.


An escrow account is an account held in the homeowner's name to pay obligations such as property taxes and insurance. Home Point Financial Corporation will collect a monthly escrow payment as a portion of the regular monthly payment. If an account is not escrowed, the customer is responsible for paying the taxes and insurance for the property.
There are several possibilities why your escrow payment changed. Escrow accounts are analyzed annually during which time Homepoint uses information provided by tax authorities and insurance companies to determine the amount of your monthly escrow payment. Your tax payment and insurance premium may have increased, or we may have determined that insufficient funds have been collected to pay your taxes and/or insurance. Please note Homepoint does not set your tax or insurance amounts. If these amounts increase, you will need to contact your taxing authority or insurance provider for an explanation of the increase. If you have purchased a newly constructed home, tax amounts may not have been fully assessed at the time of loan closing. This can sometimes cause significant increases to your escrow payment upon the completion of the first annual escrow analysis.
The escrow analysis statement is a budgeting tool that helps the homeowner with monthly expenses that comes with owning a home. Not only does the statement give you a breakdown of your previous escrow disbursements, but it also displays your estimated figures for the upcoming year. We forecast your future escrow disbursements, based on the previous year, to ensure we have enough funds in your escrow balance for your future disbursements. Please call Customer Service at (800) 686-2404 or email if you have questions regarding your escrow analysis statement.

Payoff quotes

Third parties can request a payoff statement through Third Party Payoff Request
You can request a payoff quote by logging in to your account online and selecting the “request a payoff quote” option, or by calling Customer Service at (800) 686-2404.

Electronic billing (E-bill)

Our E-bill program includes consent to receive certain communications electronically including, periodic account statements, monthly mortgage statements, disclosures, privacy notices, agreements, changes to terms and conditions, fee schedules, and other such documents.
You can switch to electronic statements and communication by toggling "Say yes to paperless" to "On" in settings from within a loan at
You can switch back to mailed monthly paper statements by selecting toggling "Say yes to paperless" to "Off" off in the settings within a loan at
To receive a paper copy, please request it by: calling (800) 686-2404 and speaking to a Representative or writing to 11511 Luna Road, Suite 200, Farmers Branch, Texas 75234, with your name and mailing address. Please state that you are requesting a copy of the document(s) or that you wish to remove your consent to receive these communications electronically. A fee may be charged for the paper copy unless prohibited by applicable law. Please refer to the applicable agreement for any fee that may apply.

Updating your personal information

If you would like to change your name, please provide us with a written request and supporting legal documentation confirming your name has changed; such as a driver's license, marriage certificate, or other court documents. This information can be sent via email to or fax to 866-761-9159. You can also mail your request to: Home Point Financial Corporation Attn: Correspondence 11511 Luna Road Suite 200 Farmers Branch, TX 75234.
If your social security number has been changed since the origination of your loan, please email with legal documentation that shows the correct social security number.

Please login at to update this information. Settings for your personal information can be found under the "Borrower Information" section, and preferred contact methods settings can be found under "Settings."

Alternatively, call us at (800) 686-2404 to update this information with a Customer Care Associate.

Homeowners Insurance

Homeowners Insurance covers losses and damages that occur to your property or on your property. Your policy can provide funds to repair or replace damaged property and protect you from some types of liabilities.
We know what a big investment it is to buy a home, and homeowners insurance helps protect you and your home financially if disaster strikes. Homeowners insurance benefits you because, in a worst-case scenario where your home is destroyed due to a disaster, you won"t need to continue paying your mortgage on a home that doesn"t exist.
Both you and your mortgage lender put major financial investments into your home by providing funds for purchase. Because of this, your mortgage lender is interested in protecting the property as well. If your home is destroyed in a disaster, they won"t lose the remaining loan amount that they had invested.
The two most common types of homeowners insurance policies are Basic Homeowners Insurance (formally known as Homeowners Policy Special Form 3 or HO-3), and Homeowners Policy Special Form 6 (or HO-6). These two policies cover different types of home. HO-6 is structured similarly to HO-3 but covers condominiums and co-ops, also known as a "walls in" policy.

Both HO-3 and HO-6 have six different types of coverage:

  • Dwelling coverage: This covers anything that's physically a part of your house. Think permanent fixtures like drywall, plumbing, cabinetry.
  • Other Structures coverage: This covers structures on the property, but not attached to your house, like a shed or detached garage.
  • Personal Property coverage: Covers all of your personal property no matter where it is located (even if it's not in your home!)
  • Loss of Use coverage: This coverage is applied when your insured property is considered uninhabitable to cover living expenses or fair rental value if you're renting out your home. Your property could be considered uninhabitable due to natural disasters like fires or tornadoes.
  • Liability coverage: his covers you against lawsuits for injury or property damage that your or your family members may be "at fault" for. It also pays for damage caused by your pets.
  • Medical Payments to Others coverage: This pays for medical payments of any third parties who were injured on your property, regardless of who is at fault.
  • Each of these coverages will have a coverage limit, meaning the maximum amount that the insurance will cover. It is important that you adjust these limits as needed when you receive your insurance quote.

Perils are events that cause damage or loss to your property. Under an HO-3 policy, you are covered for everything except for things that are specifically listed as perils that policy won't cover. This is called an "open perils" basis of coverage. There are also "named perils" (usually like fire, theft, etc.) that it will cover you against.

Basically, your insurance company will pay to repair or replace your damaged property as long as it is listed as a "named peril" or it's a peril that is not excluded in writing.

Hippo Insurance

As of December 2020, Hippo Insurance provides coverage in Alabama, Arizona, Arkansas, California, Connecticut, Colorado, Delaware, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Maine, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Oregon.
When you have a Homepoint mortgage and Hippo Insurance, Homepoint is able to pay your Hippo Insurance premium on a monthly basis out of your Homepoint escrow account.

If you are buying a new home or refinancing

If you are buying a new home, signing up for Hippo’s monthly escrow option means that you don't need to bring as much cash to the closing table because we are able to reduce the required balance in your Homepoint escrow account

If you are switching to a Hippo Insurance policy with the monthly payment option

If you are a homeowner switching from a current provider to a Hippo Insurance policy, you may get cash back if there are excess funds in your escrow account now.

Sign up in three simple steps:

  1. Sign up for a Hippo Policy at
  2. At the end of registration, pick the “Monthly escrow” option
  3. After you've signed up, call Homepoint at (800) 686-2404. Request an escrow analysis and mention that you have signed up for Hippo's monthly escrow option.

We will take it from there!

You will receive an updated escrow analysis statement with more details. Additionally, if there are excess funds in your escrow account after switching to the monthly pay option, you will receive a check within 30 days of your new Hippo policy effective date. That refund may come from Homepoint, your previous home insurance company, or a combination of both. Your refund may vary based on your renewal date and the amount currently in your escrow account.

Security and authorizations

In order to authorize a third party to access all information regarding your account, please fill out and return the Third Party Authorization form here
In order to set up an 8 character mortgage passcode to be used when accessing loan information via the call center, please fill out and return the Mortgage Passcode form here