The most common home loan and mortgage questions
Here are some of the most frequently asked questions regarding mortgages. If none of your questions are here, please contact one of our mortgage advisors.
Frequently Asked Questions
Why is the mortgage payoff different than the balance I see on my mortgage statement?
The balance on the mortgage statement is the balance of the mortgage at a specific point in time. From that time until the mortgage is "paid off," interest for the loan is accruing daily. The official mortgage payoff includes the balance plus the daily interest that's been accruing until settlement date.