To confirm the accuracy of the mortgage payoff amount on the settlement statement, it is essential for the seller to rely on the information directly from their lender. The quote provided by the lender reflects the exact amount required to pay off the mortgage at that moment, including any interest accrued and potential fees. This figure is specifically calculated based on the current standing of the loan, which might differ from the original loan amount due to payments made or additional interest accrued.
Using the lender's quote is the most reliable way to ensure that the payoff amount is correct because it encompasses all current financial obligations associated with the mortgage. The other options do not provide the same level of verification. For instance, while matching the amount on the closing disclosure can be useful, it may not always reflect the most current payoff amount, especially if there have been changes in interest or other fees since the disclosure was issued. Therefore, relying on the lender’s direct communication provides the most accuracy and assurance for the seller.