If you are refinancing or want to pay off your mortgage or your downpayment assistance loan early, you must submit a payoff request to your loan servicer. The payoff tells you exactly how much you still owe on your mortgage (the remaining balance). It might also include accrued interest or fees that you may owe.

To request a payoff for your Housing Finance Commission loan or downpayment assistance loan (also known as your second mortgage), contact your loan servicer directly. This is the entity to which you make your mortgage payments. Find the contact information for all our loan servicers here.

Yes, it can be reissued within the first twelve months of refinancing if the borrower meets guidelines. Please find the criteria here.

Government first mortgages are assumable if allowed per agency guidelines and meet Commission criteria. Downpayment assistance loans are not assumable.

The Commission cannot provide payoff statements. Contact the borrowers first-mortgage loan servicer directly for a payoff statement for both the first and the second mortgage loan, as they service both. If you are still unable to receive a payoff from the servicer, please contact the Commission.

Please contact the loan servicer of the first mortgage loan to obtain a copy of the mortgage Note.

You may request either a digital copy or a certified printed copy of your MCC. Click here for instructions.

Yes. The interest rate is very low, from 0% to 4% depending on the program. It is wrapped into your main home mortgage, so you don’t have two bills to pay. Also, most of our downpayment loans are payment deferred” meaning no payment is due until the mortgage is paid off or until you sell, transfer, move out of or refinance the property.

If you refinance, per your executed note and our Home Advantage program manual, you will need to pay off the Commission downpayment assistance loan (the second mortgage). The Commission does not subordinate our loans to other loans. In order to request a DPA loan payoff, please contact the loan servicer of your main home mortgage (your first mortgage).