lump sum mortgage pay off

boram · #1 Aug 4, 2008, 06:12 PM

I would like to pay off my home mortgage in one lump sum payment, so will i have to
pay more than i currently owe or less?

danielnoahsmommy · Aug 4, 2008, 06:14 PM

you should contact your mortgage co

LisaB4657 · Aug 4, 2008, 06:17 PM

The payoff is going to be the outstanding balance, plus any interest that has accrued since your last payment. The payoff will also probably include a few fees such as the cost of recording the cancellation and a payoff statement fee, but those aren't usually more than $25-$50. So the payoff amount will probably be more than your current outstanding balance but not much more.



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