America Mortgage Pay on the Web allows you to make payment online conveniently from any location. You just need to sign in to online banking in order to experience the ultimate in convenience, which is accessible to you 24 hours a day and seven days a week. The option not only allows you to make payments but also to view, cancel, and schedule the same, thus giving you more control over managing your finance.

It is also possible to add an account from another bank to transfer money to your mortgage account automatically or by yourself. To do so, you will need your account number and the nine digit routing number of the bank concerned.

Moreover, you can schedule a payment on the due date as well as on a date that comes after it with of course any late charge applicable to you. If you want to add something extra to your regular monthly bill in order to pay off the principal amount faster, you can do this also by entering an amount in the Additional Principal field.

Comparing Bank of America Mortgage Pay on the Web with BofA Bill Pay option, the former gives you flexibility in many ways as it does not require a checking or savings account at B of A and it allows you to pay for escrow, principal and other fees too. Other options, such as Bank of America Mortgage Pay by Phone or with Credit Card are no longer in existence.

Bank of America Mortgage Payoff

It is possible to pay your mortgage off at any point of time before the loan term ends. But since this is bound to cause a certain amount of loss to the bank, you may be asked for a prepayment penalty. This is a special fee that is applicable only when you opt for an early mortgage payoff, however, it is not applicable when you make additional payments to the principal balance.

Bank of America even offers mortgage accelerator program to help you build equity in your home faster. Whether or not you will be subjected to prepayment penalty depends chiefly on the terms of your mortgage.

Contact the loan servicing department of the bank to get all information pertaining to mortgage payoff statement and amount. Moreover, you will need to contact the same department to make a payoff request for a residential mortgage. Here is the contact detail.

Bank of America Mortgage Payoff Phone Number: 1.800.763.1255

The payoff details and other necessary instructions for commercial mortgage can be obtained by using the mailing address and fax number given below.

Bank of America
Real Estate Structured Finance Servicing Group
NC1-026-06-01
900 West Trade Street
Suite 650
Charlotte, NC 28255
Attention: Payoff Services
Fax Number: 1.704.317.4501