A mortgage payoff statement shows the amount needed to fully pay off your loan by a specific date. It is commonly used when selling a home, refinancing, or paying off a mortgage early.
Payoff amount vs. current balance
Your current balance is the outstanding principal amount. Your payoff amount may include additional interest through the payoff date, fees, escrow adjustments, or other amounts required to close the loan.
When a payoff statement may be needed
- Selling your home
- Refinancing
- Paying off the loan early
- Using proceeds from another transaction
- Confirming final loan payoff details
Thinking about refinancing or accessing equity?
What a payoff statement may include
- Principal balance
- Interest due through a specific date
- Recording or release fees
- Late fees, if applicable
- Escrow details
- Payment instructions
- Good-through date
Why timing matters
A payoff statement is usually valid through a specific date. If the payoff happens after that date, additional interest or updated fees may apply. Always use current instructions from your servicer.
Understand your current loan before choosing your next step.
Get StartedPayoff amounts, fees, escrow adjustments, and timing vary by servicer, loan type, account status, and payoff date.