Salem Five Mortgage Payment Options

Salem Five Mortgage Payment
Updated - 2022.04.21

Salem Five Mortgage is a company that gives homeowners peace of mind when they need to buy or refinance their dream home. They have over 40 years of experience giving people loans, and they use the latest technology to make buying a home easier. Salem Five mortgage payment options feature flexible repayment plans and the ability to customize your loan so you can get the most from it.

Salem Five is happy to take the time necessary to get to know you and your unique situation to ensure that your mortgage is tailored and flexible enough to fit a variety of financial situations.

These 3 free online calculators can help you to find out how much your monthly payment on Salem Five Mortgage will be:

Create an Online Account to Make Your Salem Five Mortgage Payment

Salem Five Mortgage Payment

Signing up for a Salem Five account provides individuals with immediate access to their mortgage information. Including due dates and balances, and the capability to pay bills and make document storage more secure. To create your Salem Five mortgage online account, follow the prompts below:

  • Go to:
  • Navigate your cursor to the top-right of your screen and click on the LOGIN button.
  • Click on the Enroll button. You will get this button below the Sign In button:
  • When creating your Salem Five mortgage account online, you usually go through 2 registration phases for verification and account setup.
  • In the first phase:
  • Enter the following information:
    • Social Security Number
    • Your Zip Code
    • Email address. This email address should be the one you used when applying for your mortgage.
  • Check the I am not a robot box.
  • Click on Enroll
  • Now to the account setup stage. Enter the following details:
    • Enter your preferred username
    • Type in the passcode of your choosing. You can also choose to allow Google to auto-generate a password for you. You should note that the password needs to be unique so that no one can guess it. Use the following standard guidelines to create a hard to crack password:
      • It should be anywhere between 8 and 11 characters long.
      • Apply both uppercase and lowercase letters, plus numbers.
      • Use special characters such as *!@& and other punctuation.
    • Next, you want to key in the following information:
      • Your Contact information
      • Your residence street address
      • Province/Territory/City
      • Your email address
      • Phone number
    • Prior to submitting your application, you want to double-check the details you’ve provided above. Look at the Salem Five’s terms and conditions. 
    • After completing your registration, click on “Complete Sign up.”
    • Due to security concerns observed by other mortgage payment options service providers, it’s mandatory that your devices be validated before proceeding for security purposes. As a result, you will receive temporary codes on SMS messages, emails, or phone calls.

Log into Your Account to Make Salem Five Mortgage Payment

Simply log into your account and select the payment option you want to use to pay your Salem Five mortgage online. To log in to your Salem Five mortgage account:

  • Enter the following URL into your browser:
  • Move your cursor to the top-right of your screen and click on LOGIN.
  • Enter the following details:
    • Your Username
    • Password
  • You can check the Save my User ID box if you use your home computer.

 After login into your account, users may see your billing information, which includes payment history and bill deadlines, among other things. You can also pay your bill online by simply entering the information from your bank account into the website. Salem Five makes it easy to keep track of your mortgage payments by providing a single dashboard where you can see all of your transactions at once. 

Other Salem Five Mortgage Payment Options

Salem Five Mortgage Payment

While making your mortgage payments is easy using the online platform, it may not always be the most convenient payment option, so Salem Five has other alternatives you can explore. These include:

Pay by Mail

You can use this Salem Five payment option when:

  • You are sending your payment without the envelope provided by Salem Five.
  • You are sending your payment without a payment stub
  • You have a special payment arrangement

Forward your payments to the following addresses:

Regular Mail:

Attn: Loan Operations/Payments

  1. O. Box 840

Salem, MA 01970

Overnight Mail:

Salem Five

Attn: Loan Servicing/Payments

210 Essex Street

Salem, MA 01970

Salem Five Mortgage Payment Questions and Answers

What does the notification “No bill is due……..” mean?

Payment on the loan is not currently required at this time. Varied loan kinds create bills for the next payment due under different schedules, then sent to the borrower.

In this case, clicking on “Make a Payment” will only allow you to make a payment if a payment is due. In most cases, between 13 and 28 days before the payment due date, the loan type generates a statement for the next due payment. Don’t hesitate to contact a Member Contact Center Representative at 800-755-0055 for help with additional payment options that may be available before payment is due.

Is it possible to pay a different amount than the Amount Due displayed?

Yes. A drop-down menu appears in the Pay box; select the “Different Amount” option from the list. After that, you will be able to input the amount you desire to pay into the box. Salem Five will display the amount you are paying on the confirmation page, and the amount you are paying will be displayed on the button to “Pay.”

What is the meaning of the message “If you have any questions regarding your payment…”?

It is impossible to make a payment through the portal; instead, you need to contact a Member Contact Center representative at 800-755-0055.

What to Do if I Made a Late Salem Five Mortgage Payment

Salem Five Mortgage Payment

It’s a good idea to avoid a late Salem Five mortgage payment at all costs, but mistakes sometimes happen. While you don’t want to be too hard on yourself if this happens, you need to consider possible consequences. Case in point: you could see your credit score take a hit if you don’t make payments on schedule. Also keep in mind that late mortgage payments may remain on your credit report for as many as seven years, which would adversely impact your credit score. What follows is a look at 3 proven strategies you can use to have late mortgage payment information scrubbed from your credit report.

Option #1: Contact Salem Five Mortgage and Make Request

Reach out to Salem Five mortgage by phone right away, and acknowledge that your payment was submitted past the deadline. It’s important to admit you were in error. Let them know when they can expect payment. They may be willing to delete your late payment data so that your creditworthiness doesn’t suffer.

Option #2: Write Them a Letter

The next option at your disposal is to write a letter, known as a goodwill letter, to Salem Five Mortgage. In the letter, you’ll want to specifically and respectfully request a removal. Do these 2 things in the letter:

  1. Demonstrate that you accept that the situation was caused by you.
  2. Guarantee that there will be no repeat of the delinquent behavior going forward.

What follows is a sample letter template you can use as inspiration:

[Your first and last name] [your address] [your account number]


To Whom It May Concern:

I appreciate your taking the time to read my letter. The reason for this correspondence is that I found on my latest credit report a late payment listed on [date] for my [name of account] account. I’m aware of the importance of making timely payments and meeting my financial commitments. But due to [situation that led to the missed payment], I unintentionally missed the payment due date. Although I missed the deadline, I have since then taken measures to ensure this does not happen again. Specifically, I’ve [explain what has changed that will prevent any additional late payments]. Since my missed payment, I have had a flawless record of making payments on time.

One reason I’m making this request is that my intention is to apply for a [loan, credit card, etc], and I’ve come to understand that the missed payment reflected on my credit report could jeopardize my objective. Given the fact that my single late payment does not adequately reflect my creditworthiness and intention to abide by my financial obligations, I would be grateful if you would make a goodwill adjustment. This would delete my late payment on [date] and enable me to obtain a [loan, credit card, etc.) and to secure a better rate.

I appreciate your considering this matter, and I hope you will grant my request.

Best regards,

[your name]

Option #3: Make Them an Offer

Another option is to contact Salem Five Mortgage and make them an offer they can’t refuse. Lenders prefer to have people opt for automatic payments – so that payments are made on time, all the time. If you’re willing to sign up, the lender might be persuaded to scrub the late payment from your credit report as a goodwill gesture. Salem Five Mortgage may, if you do not wish to sign on for automatic payments, recommend another way for you to potentially get your late payment erased from your credit report.

How to Avoid Late Salem Five Mortgage Payments

When you do get approved for a Salem Five Mortgage loan, you’ll want to avoid any late payments. Here are a few tips that will help you steer clear of making untimely payments.

Tip #1: Sign Up for Auto-Pay

Your first order of business is to set up an automatic payment option, and you can do this either through your bank or through your lender. You’ll want to go with the most ideal option for you.

Auto-Pay - the Pros:

  1. You can avoid late payments and any resulting late fees. This will, in turn, ensure a healthy credit score.
  2. You can do your part to protect the environment with paperless billing.
  3. You won’t have to deal with any expenses relating to postage as you won’t need an envelope or a stamp, and you won’t have to fill out a check since auto-pay is done via electronic funds transfer.
  4. You will save time since auto-pay is convenient. No more will you have to take the time to sit down, write up a check, write your address and the address of the mortgage lender on the envelope, put on a stamp, and put the envelope in the mail. With auto-pay, you can automate the entire process of paying bills.

Auto-Pay - the Negatives:

  1. You could, if you’re not monitoring the inflows and outflows of money in your bank account, overdraw your account. In order to avoid any problems, just keep track of how much you have in your account at all times.
  2. You could potentially overlook things like errors, interest rate hikes, or other hidden fees. This can be avoided by simply making it a habit to go over your bill.
  3. You could fail to stay on top of things such as the amount owing or the amount you’re paying monthly. As has been mentioned, you can steer clear of such problems by checking into your account regularly. This will help you to know when it might be a good idea to made additional payments to reduce the principal quicker.

Tip #2: Sign Up for Alerts and Reminders

Receiving a notification for an upcoming bill payment can make all the difference. You can get this by using an app, by getting your mortgage company to send an alert or reminder by email, or even by using Google calendar. You’ll be able to avoid late payments by doing so

Tip #3: Set Up a Bill Pay Day

Another option is to purposefully schedule a period of the month when you can commit to making bill payments. When you go this route and have a system in place, you will avoid late Salem Five mortgage payments.

Customer Service

Salem Five Customer Help:

(800) 850-5000

Salem Five Banking: 

(800) 255-7787

Lost or Stolen Salem Five Cards:

(800) 850-5000

Security Protection: 

(800) 850-5000

Salem Five Mortgage Mail Address:

Salem Five
Loan Operations
PO Box 840
Salem, MA 01970

Salem Five Branch Locations: Click the link






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