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Ready to pay off your loan? 

Congratulations! Whether you’re down to the last few payments, purchasing a new home or refinancing, we want this to be a breeze, so follow these 3 steps as you celebrate this major milestone.

Step 1: Request a payoff statement

You can request online OR by phone.

A payoff statement provides the exact amount required to pay your loan in full.  It’s important to receive a payoff statement as interest on the unpaid principal balance changes daily.

Request online

Request by phone

To speak with a Mortgage Cient Service Specialist, call our automated phone system at 800-634-7928.

Step 2: Send your final payment

We can only accept final payment by wire OR certified funds.

Funds are credited by 3 pm ET on the date received by our Mortgage Payoff Department. Additional interest will be charged if funds are not received by this time.

Wire your final payment

All wire transfers and funds transmittals should contain the following information. Note: your bank may charge you a wire fee. 

Bank Name: Truist Bank, Atlanta, GA
Bank ABA #: 061000104
Account Name: Collection Clearing
Account Number: 201721740

Please include borrower name, property address, mortgage account number.

Be aware - protect yourself from wire fraud.

Fraudsters can pose as your Truist loan officer, processor, or settlement agent to trick you into wiring closing funds to fraudulent accounts.  Please follow the above wiring instructions when sending your mortgage payoff funds.

Mail your final payment

Final payment sent by mail must be in the form of certified funds (certified check, money order).

We recommend overnight mail with tracking, sent to:

Truist Mortgage Payoff Department
111 Millport Circle   
MC 900-01-01-05
Greenville, SC 29607

Please include borrower name and mortgage account number.

Step 3: A few things to do and be aware of

Your next steps

  • Update your mailing address: Please visit us at Truist.com/mycontactinfo or contact us at 800-634-7928 if your mailing address will change. We need this information to send your payoff confirmation, lien release, etc.
  • Recurring draft: Please cancel any recurring draft you have through Truist or other bank prior to payoff.
  • Taxes / Insurance: Make plans for paying your property taxes and homeowners insurance yourself unless you refinanced and are again escrowing your taxes and insurance.

Our next steps

  • Confirmation letter: We’ll send a letter confirming your loan is paid in full to your mailing address on file.
  • Escrow refund or overpayment: Any remaining escrow funds or overpayment will be refunded to you no later than 20 business days after the loan is paid in full (plus mailing time, as applicable) – so be on the lookout. 
  • Lien release: You’ll receive a letter when we send the mortgage satisfaction document (lien release) to be recorded at the local county land records.  State guidelines and timelines vary, so please allow time before contacting your local county for a copy of that document. 

Frequently asked questions about mortgage payoff

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No, it is not the same. A payoff statement consists of the following (as applicable):

  • Unpaid principal balance(s).
  • Interest through the date your mortgage is paid in full.  TIP: Interest is paid in arrears, so for example if your payment is due for February 1st, and your payoff statement is good through Feb 15th, your interest will include January (a month in arrears) and interest through 15th. 
  • Outstanding late charges or other fees associated with the mortgage.
  • A lien release fee for recording the satisfaction (as assessed by local county).
  • Mortgage insurance premiums (these are also paid in arrears).
  • Funds to cover a negative escrow balance.

Clients can add a daily or monthly interest amount shown on the payoff statement to the payoff funds sent.  However, we encourage you to request a new payoff statement in case other factors have changed.

A monthly payment is expected before the late charge date until the loan is paid off. Any unpaid late charges will be added to your payoff amount. You can request an updated payoff statement after your payment has been received by Truist.

Your mortgage insurance premium is paid in arrears, so depending on when you requested your payoff, more than one premium may be due.

We will continue to pay all escrowed bills due until the final payoff funds are received.

A Deed is a legal document (you would have received at closing) that transferred ownership of the property from the seller to you. The Deed of Trust or Deed to Secure Debt (also called a Mortgage or Security Instrument) secures the loan on the property. The Deed of Trust was recorded at closing placing a lien on the property, this is what will be released when the load is paid in full.

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Disclosures

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Services provided by Truist Financial Corporation (Truist) affiliates: Banking products and services, including loans and deposit accounts, provided by Truist Bank, Member FDIC. Trust and investment management services provided by Truist Bank. Securities, brokerage accounts and /or annuities offered by Truist Investment Services, Inc., an SEC registered broker-dealer, and member FINRA and SIPC, and a licensed insurance agency. Investment advisory services offered by Truist Advisory Services, Inc. and GFO Advisory Services, LLC, SEC registered investment advisers. Some insurance products offered by Truist Investment Services, Inc. Other insurance products offered by McGriff Insurance Services, LLC (McGriff), Kensington Vanguard National Land Services, LLC (Kensington Vanguard) and Crump Life Insurance Services, LLC (Crump). Truist Life Insurance Services (TLIS) is a division of Crump, Arkansas License #100103477. Variable insurance material is for broker-dealer or registered representative use only. Variable products distributed by P.J. Robb Variable (PJRV), LLC, Arkansas License #100110185. Member FINRA.

McGriff, Kensington Vanguard, Crump, TLIS, and PJRV are not affiliated with Truist Financial Corporation or any of its subsidiaries.

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Mortgage products and services are offered through Truist Bank. All Truist mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.

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"Truist Advisors" may be officers and/or associated persons of the following affiliates of Truist, Truist Investment Services, Inc., and/or Truist Advisory Services, Inc. Truist Wealth, International Wealth, Center for Family Legacy, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are trade names used by Truist Bank, Truist Investment Services, Inc., and Truist Advisory Services, Inc.

Applications, agreements, disclosures, and other servicing communications provided by Truist Bank and its subsidiary businesses will be provided in English. As a result, it will be necessary for customers to speak, read and understand English or to have an appropriate translator assisting them. Please note that Truist provides translations of webpages, documents and disclosures as a courtesy and in the event of any inconsistencies or discrepancies between the English content and the translated content, the English content supersedes the translation. Truist offers phone support in Spanish at 844-4TRUIST (844-487-8478), option 9. For assistance in other languages, please speak to a representative directly.

New York City residents:

Translation or other language access services may be available. When calling our office regarding collection activity, if you speak a language other than English and need verbal translation services, be sure to inform the representative. A description and translation of commonly-used debt collection terms is available in multiple languages at http://www.nyc.gov/dca.

Borrowers with Limited English Proficiency (LEP) needing information can use the following resources:

The Consumer Finance Protection Bureau (CFPB) also provides additional resources for homeowners seeking payment assistance in select languages at: https://www.consumerfinance.gov/housing/housing-insecurity/help-for-homeowners/

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