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Your mortgage payment represents a significant piece of your budget every month, so knowing how much it would cost to pay off your mortgage entirely can be a really useful thing to know when making decisions about your financial future.

Now Rocket Mortgage® by Quicken Loans® is offering clients a free and easy way to get an estimate of their payoff at a glance. Read on to find out how this feature works.

Seeing Your Current Payoff Amount

If you’re interested in determining what it would take to pay off your loan at any given time, you’re able to access that information on RocketMortgage.com. Just log in to your Rocket Account and select the Loan Information tab, then in the drop-down menu click Loan Information to view the new payoff tool near the bottom of the page.

In addition to getting the payoff estimate for the current date, you have the ability to put in a future date, as well. This provides you with the ability to calculate interest up to your potential payoff date, which will aid you in making your payoff while minimizing the opportunity for unwelcome surprises.

The idea here is to be able to see your payoff amount at any time so you can engage in advance planning around your financial and life goals. This is another tool to put into your financial toolbelt.

Getting a Payoff Statement

When it comes time to actually pay off your mortgage, you will need to order an official statement. While the new payoff tool will give you a really good estimate, this statement is the true, finalized number you need to know to pay off your mortgage. In order to request a statement, you’ll need to give us a call at (800) 508-0944, and press option 5. Beyond that, we’ll need a little bit of information to verify a way of getting information to the right person.

You might be charged a fee for the generation of an official payoff statement. Because of this, it’s important that you make sure you’re ready to pay off your mortgage before moving forward. You’ll also need the following:

  • Your Social Security number
  • The property address
  • Your Quicken Loans loan number

Once you order a payoff amount, you can have it faxed to you. It’ll also show up in the Documents section of your Rocket Account.

The address to send your payoff funds will be on the statement itself. We accept wire transfers, cashier’s checks and certified checks. You should include your name, loan number and property address with your payoff.

Visit your Rocket Account in order to get a preview of your mortgage payoff today. If you have any questions, let us know in the comments below.

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