Paying Off Your Mortgage

If you're ready to pay off your mortgage, we'll show you how to do it efficiently and securely.

Ready to pay off your mortgage now?

To order a payoff statement and get assistance throughout the process, call 1-800-283-7918 or read on for more details about how to pay off your home loan.

Paying off your mortgage

  • Be sure to include a copy of your payoff statement and a forwarding address with the payoff funds to help ensure you receive any refund checks.
  • Once Citi receives the payoff funds, we'll make sure the recorder's office gets the documents that release the property to you.
  • Citi will send a refund for any remaining escrow funds and/or additional payoff amount to your address within 20 business days after your payoff.

Your mortgage payoff calculation

  • Your payoff statement is calculated to the "next interest due date" to avoid any interest shortage.
  • For conventional loans, VA and co-op loans, your final payoff amount is calculated on the daily interest charge. Any extra funds are refunded after the payoff is processed.
  • Your payoff amount could change if there's any activity on your account.
  • Payoff statement fees are the difference between the total amount you borrowed and how much it costs to pay the loan in full.
  • Servicing fees (for document copies, name changes, mortgage verification, faxing documents, etc.) will be deducted from any refund or escrow funds if your payoff amount doesn't include them.
  • Based on the terms of your original loan agreement, a prepayment penalty could be added to your total payoff amount.
  • Your payoff statement is not valid if your account has a bankruptcy or foreclosure after the statement date. You must contact Citi for an updated payoff quote.
  • Call us at 1-800-283-7918 if you have any questions about your payoff amount or statement.

Some mortgages, such as FHA loans and VA home loans, have additional requirements or instructions.

Payoff information for FHA and VA loans

Why your payoff calculations might change

Things that may change your payoff amount can include:

  • Escrow disbursements (taxes, homeowners insurance, primary mortgage insurance, etc.)
  • Delinquency or default expenses: third-party expenses like property inspection fees, property preservation costs, appraisal costs and attorney fees
  • Checks returned by the bank for a stop payment or insufficient funds

Wiring payoff funds

Wiring your payoff funds helps you avoid overnight delivery charges and an additional day of interest charges if the funds are received before 2:00 PM ET.

When wiring funds, be sure to:

  • Send us mailing instructions for the paid loan documents.
  • Add $15 (the wire-transfer processing fee) to your payoff amount. Wired payoff funds that don't include the $15 wire transfer fee may be returned or delayed.
  • Submit your wire transfer as follows:
    ABA number: 031100209
    Credit to: CitiMortgage, Inc.
    CitiMortgage account number: 38681139
    Customer name
    Customer loan

There's no additional fee for submitting payoff funds by certified check. For same-day credit, certified checks must be received by 2:00 PM ET.

Need mortgage help?

Share Your Screen With A Phone Representative

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If you need assistance from a Citi representative, contact us via chat or phone