You’re another year closer to making the final payment on your mortgage loan. Whether you’re at the beginning or end of your loan, happy in your home or thinking about buying another, considering refinancing, or staying the course, it’s good to be prepared.

We’ve gathered five tips to help you prepare for your payoff day when it’s time.

1. Request a quote

You will need a payoff quote (sometimes called a payoff letter) to prepare for your final payment. Login to MyAccount and click on the MyAccount tab. Under Quick Links, click on Payoff Quote to request a payoff letter.

2. Note the quote expiration date

Your payoff quote amount can change if new transactions take place or if fees or interest accrues. Make sure your payoff quote is up-to-date before arranging final payments.

3. Arrange for final payment delivery

You must make your payoff payment through a certified instrument, such as a money order or cashier’s check or your bank’s wire service. Whatever method you choose for delivery of the funds, make sure they get to the right place. Your payoff quote will include addresses for payment by mail or by various overnight services. To avoid any handling delays, double-check your delivery plans.

4. Stop AutoPay at payoff

If you normally make mortgage payments through automatic withdrawals, please cancel when you complete your payoff. You’re responsible for discontinuing AutoPay to avoid any further withdrawals from occurring.

5. Learn more about payoff

We’ve created a webpage to answer your questions about paying off your loan. Visit the Payoff page to find out more.

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