Your payoff amount is how much you will actually have to pay to satisfy the terms of your mortgage loan and pay off your debt. Your payoff amount is different from your current balance, which is the amount you owe as of the date of your statement. Your payoff amount also includes the payment of any interest you owe through the day you intend to pay off your loan, and it may include other fees you have incurred and not paid.
If you are considering paying off your mortgage, you can request a payoff amount from your lender or servicer. If your loan is a "closed-end" loan secured by your "principal dwelling," once you request a payoff amount servicers must provide you with an accurate statement of the total amount that would be required to satisfy your obligation in full as of a specified date.
We have TWO types of payoff requests:
- MBOH Mortgage Loans
- MBOH Reverse Annuity Mortgage (RAM) Loans
Instructions, specific to each type of payoff request, can be found on this page.
To request a payoff quote for a MBOH Mortgage Loan:
Please provide a written request including the following:
Anticipated Date of Payoff (Date money will be received in our office)
Name of Customer and Account Number if available
Signed Borrower’s Authorization
How you would like to receive the payoff quote (email, fax, mail)
Send request to:
Or, send written responses in the mail to:
Montana Board of Housing
C/O Servicing Department
PO Box 200550
Helena, MT 59620-0550
Although these requests receive immediate attention, please allow 24-48 hours for a response.