FAQs

I qualify for homestead exemption. How do I make this change to my account?

Qualifying for a homestead exemption is a great way to save on your property taxes. To ensure your estimated property tax payments reflect these savings, we simply need a few details from your county’s official approval letter.

How to update your account:

Save yourself a step—you do not need to upload, fax, or mail the physical letter to us! Simply follow these steps:

• Log in: Access your account at PENNYMAC.COM and navigate to the Secure Message Center.
• Send a message: Send us a quick note confirming that you have received your official approval letter from the county.
• Provide the amounts: Include the exact approved exemption amounts exactly as they appear in the letter. (Please note: be sure to give us the exemption amount, not the total assessed property value.)

Once we receive your message, we will use this information to update your tax estimates.

Important notice about future tax bills:

Keep in mind that county tax offices can sometimes be slow to update their actual billing systems. If we receive an official tax bill from your assessor that does not yet reflect your new exemption, we are still legally obligated to pay the full amount billed. If this happens, it could create a shortage in your escrow account and temporarily increase your future monthly mortgage payments until the county corrects the bill.