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A payoff statement for a mortgage, sometimes referred to as a payoff letter, is a document that details the exact amount of money needed to fully pay off your mortgage loan. It encompasses your outstanding balance, the interest you owe, an...
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Last Updated: 08/07/2023
in In-Depth FAQs
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What can I use my HELOC for? You can use your HELOC funds for various purposes, such as home improvements, repairs, consolidating higher interest rate debt, or other financial needs. Where can I find details about my unique HELOC account? ...
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Subservicing Notice: Cornerstone Servicing, a division of Cornerstone Capital Bank, SSB, has an agreement with to provide the day-to-day servicing of your loan. These terms apply to your use of the Cornerstone Capital Bank, SS...
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Last Updated: 03/25/2026
in Homeowners Newly Closed Loans When will I receive my first billing statement? If your loan just closed, please look out for your first statement in the coming weeks, before your first payment is due. Can I opt out of receiving paper statements in the mail? Yes, you can op...
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A Home Equity Line of Credit (HELOC) is a type of second mortgage that provides access to the equity in a home on an as-needed basis, often with a variable interest rate. The home is used as collateral against the line of credit. Similar to a...
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How can I draw money from my HELOC account? When eligible for draws/advances, we offer a few convenient options: Online: Log in to our website or app to initiate an ACH draw/advance to transfer funds to your designated checking/savings acc...
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Electronic delivery is available for the following communications: Monthly mortgage/account statements Provide information about payments due, account summary, and recent transactions. Year-end statements Depending on your loan/accoun...
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Can I split my monthly payment into two payments? Yes, by enrolling for Budget Drafts , you can schedule automatic recurring ACH drafts from your checking or savings account every 14 days. Once enrolled, half of your monthly mortgage payment wi...
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Last Updated: 03/25/2026
in Homeowners Newly Closed Loans Congratulations on your recent closing! We are happy to support you as the servicer of your loan. At , our goal is to make homeownership easy and convenient, every step of the way As your loan servicer, you can expect us to: Send stateme...