A payoff statement details principal and interest and any miscellaneous fees — late fees, fax fees, etc. — required to fulfill the terms of an existing mortgage or construction loan. You may receive requests to provide a mortgage payoff statement to validate the terms of the loan.
Avoid delays in processing your application
For all documents you’re asked to provide:
- Make sure the copies you send are legible.
- Do not include documents that have been altered with correction fluid or by other means.
- Submit the entire requested document and include all pages (even blank ones).