Knowing you can pay off your mortgage or home equity loan early may have you reaching for your checkbook, but writing a check for the outstanding balance that appears on your monthly statement won't satisfy the loan. Because the bank charges interest until your payoff date and fees may be involved, the amount needed for payoff can differ from what your monthly statement says you owe. The payoff statement tells you the exact amount needed on the date you specify to retire the mortgage.
The information you need to provide will include the borrowers name, property address, lenders name (institution/bank’s name), loan amount, loan number, and the payoff date (good-through date).
Our agents will then acquire the payoff statement from the appropriate institutions and mail it to our customer in PDF form.