Calculate a Payoff Quote

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Supply a token with API Execute permissions, an id for an existing loan, and the target payoff date in the query string to get a precise payoff amount for the specified loan.

A loan's ledger balance approximates a loan's payoff amount, but it does not include a variety of other payoff considerations. The payoff amount returned by this operation will include per-diem interest up to the supplied date, deficiency in the escrow balance, fees scheduled for collection when the loan closes, etc.

Example Request:

?token=aaaaaaaaaa&loan=193f8d3a-f54f-4237-8b54-eb2d6ee0a3e4&date=10-05-2021

You can optionally supply some additional information to the payoff calculator in the query string. Set dayinterest to true if you want the calculator to earn interest for the day of closing, default is false. Set skipfuturelate to tru if you want the calculator to remove any late fees that occur after the current system date, default is false. Set payofffee to a dollar amount to be added to the payoff quote as an extra fee you will charge to close the loan.

Example Request with all parameters:

?token=aaaaaaaaaa&loan=193f8d3a-f54f-4237-8b54-eb2d6ee0a3e4&date=10-05-2021&dayinterest=true&skipfuturelate=true&payofffee=500

The response will include the payoff amount, and the details of the various factors that contributed to the total payoff amount.

Example Response:

{
"ClosingFees": 35,
"DailyInterest": 18.62,
"DailyInterestDescription": "Not Applicable",
"Fees": 18,
"Interest": 7.65,
"InterestOnDayOfClosing": false,
"ItemizedClosingFees": "",
"NegativeEscrowBalance": 0.0,
"NegativeEscrowDescription": "Not Applicable",
"OverallBalance": 1390.06,
"OverallBalanceDate": "2022-12-09T00:00:00-05:00",
"OverallBalanceDescription": "$1,390.06 on 10/13/2021",
"PayoffFee": 0,
"PayoffTargetDate": "2022-12-09T00:00:00-05:00",
"Penalty": 0.0,
"PenaltyDescription": null,
"PerDiemInterest": 1.6,
"Principal": 1248.65,
"SkipFutureLateFees": false,
"SuspendedPayments": 0.0,
"SuspendedPaymentsDescription": null,
"TotalPayoff": 1390.06,
"TotalPayoffDescription": "$1,390.06"
}