Last reviewed: 3 October 2026
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Why did my mortgage payment change?
A higher or lower monthly payment usually has a cause you can find on your statement. This page lists the common causes the CFPB gives, and what to do if you think the servicer made a mistake.
What this term means: Your servicer is the company you pay each month. An escrow account is an account the servicer keeps to pay your property taxes or homeowners insurance. If your payment includes the amount for escrow, it goes up or down when those costs do.[1]
Common reasons, as the CFPB lists them
| Possible reason | What the CFPB says |
|---|---|
| Escrow changed | You have an escrow account for property taxes or homeowners insurance premiums, and those taxes or premiums changed.[1] |
| A temporary buydown ended | With a temporary buydown you get a lower payment for a limited time in exchange for an up-front fee or a higher interest rate later.[1] Temporary buydowns usually last one to three years, with payments increasing each year until the buydown ends.[1] |
| An adjustable-rate mortgage reset | You have an adjustable-rate mortgage (ARM) and the interest rate changed.[1] The CFPB says some homeowners believe they have a fixed-rate loan when the loan actually includes an adjustable rate or another feature that can change the rate and payment.[1] |
| Interest-only or pay-option period ended | With these loans you can postpone principal payments for a while, and when you start paying principal the monthly payment goes up.[1] |
| Private mortgage insurance changed | The amount of your private mortgage insurance changed, or you stopped paying for it after you were able to and chose to cancel it.[1] |
| New fees | Your servicer may have charged fees that increased your monthly payment. Check your statement or recent letters.[1] |
| A servicer mistake | The CFPB says it is also possible your servicer simply made a mistake.[1] |
Read more on escrow in our guide to escrow analysis, shortage and deficiency, and on mortgage insurance in cancelling private mortgage insurance.
If an adjustable rate is about to reset
The CFPB says that if you have an ARM, your servicer is generally required to send you an estimate of your new payment.[2] If the rate is being reset for the first time, the lender must send the estimate seven to eight months before your first payment at the new rate is due.[2] If the ARM has already reset once, you are notified two to four months before the first payment at the new rate is due, if the next reset will change your payment amount.[2]
The notice must show, among other things, the current and new interest rates (or an estimate), the current and new payment amounts, and the date the first new payment is due.[2] The first notice must also include options to explore if you cannot afford the new rate and how to contact a HUD-approved housing counseling agency.[2] The CFPB says the HUD housing counselor referral line is (800) 569-4287.[2]
If you think the servicer made a mistake
- First call the servicer to check. Explain the situation and ask for a corrected statement.[1]
- Ask for a reference number and the name of the person you talk to, and take detailed notes with the date of the call.[1]
- If the servicer does not fix the problem, send a notice of error explaining why you think it made a mistake in calculating your payment.[1]
- Send it to the address the servicer uses for errors and information requests, which may differ from the address where you send payments.[1]
- If you still do not understand why your payment changed, call the servicer; you may also send an information request.[1]
- You can also submit a complaint to the CFPB online or by calling (855) 411-CFPB (2372).[1]
Our guide to notices of error and requests for information explains those two letters.
How to verify this yourself
Compare two consecutive statements to find the line that changed; the CFPB says your statement itemizes the charges. Then read the CFPB pages in the reference list; they are the source for each statement. Our suggestion: if a line item is unclear, ask the servicer to explain it in writing. A HUD-approved housing counselor can also help (see how to find one). Our published standard covers how we check loan originators; it does not review servicer billing.
What this page does not cover
This page is general information, not legal advice. It cannot tell you why your own payment changed. It does not list every possible cause. It does not cover payment changes after a loan modification, forbearance or a servicing transfer, which have their own rules. The CFPB page was last reviewed 14 January 2025. This page was last reviewed 3 October 2026.
Your next step
Put your last two statements side by side and find the line that changed. Then call your servicer and ask about that line. Return to the Mortgage help library for related guides.