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    boram's Avatar
    boram Posts: 2, Reputation: 1
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    #1

    Aug 4, 2008, 06:12 PM
    Lump sum mortgage pay off
    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's Avatar
    danielnoahsmommy Posts: 2,506, Reputation: 297
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    #2

    Aug 4, 2008, 06:14 PM
    You should contact your mortgage co
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #3

    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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