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How to get your 10-day payoff letter You鈥檒l need torequest a 10-day payoff letter from your current loan servicer, which you may be able to do online. Not all lenders offer an online request option, however, so you may need to call or email your loan servicer directly to get this information.
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How do I request a 10 day pay-off from my lender?
If you must request your 10 day pay-off from your lender directly, you will need to provide some basic information, including: You will need to ask each individual loan servicer that you have what your 10-day payoff amount is.
What is a 10-day payoff?
After you are approved for an Earnest loan there is a transition period while we pay off your old loans and start your new one. With any loan you refinance (whether that鈥檚 a student loan, auto loan, or home loan), this is known as the 10-day payoff.
What is the 10-day payoff for refinancing?
With any loan you refinance (whether that鈥檚 a student loan, auto loan, or home loan), this is known as the 10-day payoff. To be sure, it sometimes takes a little more than 10 days, but this is a standard process you鈥檒l find with many kinds of refinancing. Getting the correct 10-day payoff information before the clock is ticking is crucial.
When is the best time to pay off a loan?
Once you have your payoff amount, you should think about getting it done as soon as possible. A lender may give you a solid payoff number and due date (often seven to ten days).