How do you know what I owe on my mortgage?

To determine the amount owing on your mortgage, we obtain a “Mortgage Payout Statement” from your lender. This statement outlines the outstanding principal balance, any interest owing, and any prepayment charges. We will provide you with a copy of the statement.  The statement is received from the lender between 7 to 0 days prior to the Closing Date. 

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Updated on August 23, 2023