How do I pay off my mortgage or home equity loan?

Paying off your mortgage or home equity loan or line of credit begins with requesting a payoff statement, which provides the exact amount needed to fully satisfy your loan as of a specific date. Once you receive your payoff statement, follow the instructions to submit your payment in full.

Need a payoff letter for an auto loan or lease, personal loan or line of credit, or a credit card? Click here.

Please note that your mortgage or home equity payoff amount will include the principal balance plus the following:

• Interest due
• Outstanding late charges/fees (if applicable)
• Loan satisfaction fee
• Less any escrow balance (if applicable)

Requesting a Payoff Statement

If you are a current customer, please complete this form.

If you are a third party requesting a payoff, please include the following information and documentation. Requests are processed within 48 hours.

Required information

• Borrower and loan details: Customer name, mortgage loan number, property address
• Requested payoff date: Payoff “good through” date
• Requestor information: Name, company, contact phone number
• Delivery details: Email address and/or fax number for payoff delivery

Note: A signed borrower’s authorization is required. Requests will not be processed without it, and electronic signatures are not accepted.

Submit a request

Send the payoff request and signed borrower authorization:

• Fax: 484-234-2092
• Email: mortgageservicing@citadelbanking.com

Escrow and HELOC impacts

• If your loan has an escrow account, disbursements for taxes and insurance will be temporarily frozen when the payoff statement is prepared. If the loan is not paid off by the “good through” date, normal disbursements will resume.
• A Home Equity Line of Credit  will be frozen once the payoff statement is prepared. No further checks or draws will be honored.

To close and satisfy a HELOC, the signed Authorized to Close Account Form, provided with your payoff statement, must be submitted with your payoff. Failure to include this form may result in continued interest accrual and possible penalties.

Submitting a payoff payment

Accepted payment methods

Payoffs must be made using guaranteed funds, including:

• Wire transfer
• Cashier’s check or bank check
• Attorney escrow check
• Title company check

Personal checks and money orders are not accepted without prior approval.

Important payment rules

• Checks must include borrower’s name, property address, and account number.
• Payoffs made with personal or non-guaranteed funds will result in a 6-day delay in mortgage satisfaction.
• If a personal check or non-guaranteed funds are returned or declined, additional interest and possible penalties may apply.

Overnight delivery address

Citadel Federal Credit Union
Attention: Mortgage Servicing
1209 West Chester Pike, Suite 201
West Chester, PA 19382

Wire transfer instructions

• A $10 wire payoff fee must be added to your payoff amount
• Wires with insufficient identifying information will be rejected and returned

Wire funds to:
ABA: 231380104
Account: GL808
FBO: Borrower Name, Street Address, Citadel Account Number