Home Loan FAQ's

Typically, your closing will take place at a title company or at a closing attorney’s office. The specifics may appear in your sales contract or you can call your mortgage loan originator, processor, or closer for the information. If you are refinancing, you can discuss the location most convenient for you with your loan originator.

Your closing disclosure will provide the final figure. This will come from the title company once they have received our closing package. Upon request, your title company will provide you with the final settlement statement for your review. This will allow you to ask questions prior to closing and also give you the opportunity to obtain a cashier’s check (made payable to the title company) or prepare for your wire.

If you are unable to attend closing, your title company may be able to coordinate a “mail-out” to you in order to sign original documents. The signing of the documents must still take place in an authorized location with a notary present.

Please bring a photo ID, such as a driver’s license and any funds needed for closing. Funds may be wired directly to the title company or may be in the form of a cashier’s check. Some title companies may accept a personal check if the amount required is less than $1,500.00. Be sure to check with your title company to confirm their policy.

This is your final Closing Disclosure Statement. Approximately three days after your application, you were given a preliminary Closing Disclosure. The Truth-In-Lending Act is a federal law requiring lenders to disclose all of the terms of a mortgage. This final CD uses the actual numbers from closing and more accurately discloses your Annual Percentage Rate (APR), Prepaid Finance Charges, Total Amount Financed, and Total Number of Payments. See an example.

Please send your homeowner’s insurance information to your mortgage loan originator or loan processor. This “declarations page” should be supplied at least two weeks prior to closing. Typically, you will pay the first year’s insurance premium at closing. The premium will be paid by the title company to your insurance company.

PITI is an acronym for Principal, Interest, Taxes and Insurance. 

Discount points, also known as points, lower your interest rate in exchange paying for an upfront fee. One discount point is equal to 1% of the loan amount. For example, 1 discount point on a $100,000 loan is $1,000. Discount points can be a good choice for homeowners that will keep the loan for a long time.

The ratio of the amount of the loan to the appraised value or sales price, whichever is less, expressed as a percentage. For example, if the Appraised Value is $275,000 and the Sales Price is $280,000 with a loan amount of $165,000, the LTV would be 60% ($165,000 divided by $275,000).

The ratio of the total amount of monthly debt, including all house payments, credit cards, and other loans, divided by the total gross monthly income. DTI is used by lenders to determine an applicant’s ability to repay the mortgage.

PMI is a type of mortgage insurance required on convention loans if the down payment is less than 20% of the purchase price. PMI insures the lender against loss caused by the borrower’s failure to make loan payments. PMI is paid as a monthly premium, being included in the escrow portion of the monthly payment, or as a one-time upfront premium paid at closing.

Closing costs can be divided into three main categories:

1) Lender fees – Fees can include origination, points, underwriting review, processing, credit report, flood certification, and appraisal.

2) Third-party fees – These fees are charges by entities other than the lender. They can include fees for closing, title search, title insurance, tax certificates, and recording.

3) Pre-paid items – These are items collected at the time of closing and are items that accompany your loan (e.g., interest, taxes, and hazard insurance).

Title insurance provides coverage for financial loss or legal expenses resulting from specific title defects, such as unpaid liens, assessments, or liens, as it relates to the property. There two types of title insurance policies: Owner’s title insurance that protects the owner of the property and Lender’s title insurance which insures the lender has a valid, enforceable lien on the property.

 

In addition to the principal and interest, your monthly payment also includes your escrow payment. This represents 1/12 of your annual property taxes, homeowner’s insurance premium, and can include applicable PMI (Private Mortgage Insurance), FHA MIP (Federal Housing Administration Mortgage Insurance Premiums), and flood insurance. These funds are deposited into your escrow account each month when you make a payment. The lender holds the money in this account until something becomes due and makes the payment using these funds on your behalf.

A mortgage with payments due every other week, totaling 26 payments a year. Since there are only 12 monthly mortgage payments required in a conventional mortgage payment plan, a bi-weekly arrangement will produce one extra payment per year. This will help reduce the loan principal balance sooner and can reduce interest in the long term.

Insurance coverage which provides compensation to the insured in case of loss or damage to the structure of the home. Common hazards covered are fire, hail and lightning.

Insurance coverage that covers losses to the structure of the home directly caused by flooding.

A multiple peril insurance policy available to owners of private dwellings that covers the dwelling and its contents, as well as personal liability.

A standard homeowner’s policy will not cover damages caused by flooding. You can obtain flood insurance from an insurer that writes for the National Flood Insurance Program (NFIP) or purchase a private policy that meets legal requirements. If your community participates in NFIPs floodplain management program, you should be eligible to buy NFIP coverage no matter if your flood risk is low, medium, or high. The only people who may have trouble finding flood coverage are residents of “coastal barrier resource system” areas and communities that do not participate in NFIPs plans. Flood insurance is also available to renters, condominium owners, and co-op owners.

The APR is the effective rate of interest for a loan based on the original loan amount less certain closing costs. This is the rate that will appear on the Truth In Lending Disclosures you will receive. Please note that the APR is usually higher than the interest rate on your Real Estate Lien Note. A mortgage interest rate is the percentage charged on a mortgage that must be paid in addition to the principal.

Conforming and non-conforming loan limits are based on the annual changes in average home prices, as published by the Federal Housing Finance Board and the Office of Federal Housing Enterprise Oversight. Non-conforming (jumbo) loans, cannot be funded by Fannie Mae or Freddie Mac and therefore usually carry a higher interest rate. Please contact your loan officer for current loan limits.

Mail: Guardian Mortgage, Attn: Taxes, PO Box 833890, Richardson, TX  75083
Email:  [email protected]
Phone: 800.331,4799 or 972.265.1827
Fax: 866.728.4330

Your escrow deposit is equal to 1 month of the total tax and insurance bills we anticipate paying on your behalf during the coming 12 months. 

 

Example:        
Taxes:             $4000 per year
Insurance:       $2000 per year
Total:               $6000 divided by 12 months = $500 per month. 

Our analysis cycle runs March – February every year.  Every January, Guardian will perform an escrow analysis of your escrow account and adjust your monthly payment based on the amount(s) that were paid from your escrow account during the prior year.  Generally, your monthly mortgage will change due to the analysis.  The new payment amount will be effective March 1 every year.  If the analysis shows a surplus overage amount over $50.00 in your account, Guardian will automatically send you a refund check.  The refund checks are mailed prior to March 1 every year.  If the analysis shows a surplus overage amount under $50.00, the amount will be spread over 12 months and deducted from the total payment amount. At the end of January, we will mail your Annual Statement which will include your escrow analysis, the interest reported to the IRS on Tax Form 1098, as well as the amount(s) of property taxes you paid for that year. 

Note:  Property tax amounts are not reported to the IRS.

If your escrow account balance is less than the required balance at the time of your analysis, your escrow account will have a shortage.   An escrow account also includes the 2-month cushion amount (per RESPA Law).  In simple terms, your escrow account should have the equivalent of 2 months of escrow at its lowest balance within a 12-month period.  This cushion amount is in addition to the property tax and insurance amounts that are disbursed from your escrow account.  The primary purpose of the cushion, is to keep your escrow account from going into a negative balance, because taxes and insurance typically increase each year.
The total shortage amount will be automatically spread (divided) over 12 months to give you the opportunity to gradually pay it back. There are no fees or charges added to an escrow shortage. Our system makes the calculations and spreads the amount over a 12-month period. 
Your monthly mortgage payment will include the monthly escrow shortage amount added to the payment. You have the option of paying all or part of your escrow shortage. If you choose this option, your monthly mortgage payment will be adjusted accordingly.  Please contact our Customer Service Department for more details.
It is important to remember that any time there is an increase in taxes and/or insurance, you will effectively see the increase doubled in the difference of your payment amount. The reason for this is that not only did we pay more than we collected for taxes and insurance in the prior year (escrow shortage), but we are also using those same (higher) amounts as estimates for the coming year. 
 
Example:  If your property taxes and/or insurance (combined) increased +$1200 the prior year, your payment will increase approximately $200 per month, see below:
 
The escrow shortage (prior year) =                    $100 per month ($1200 / 12)
The escrow increase (current year) =                $100 per month ($1200 / 12)
Approximate payment increase=                                  $200 per month ($2400 / 12)

In the event you believe our calculations are incorrect or you have access to a better estimate from a taxing authority or insurance company, please contact our Tax or Insurance department(s) to discuss in detail.  We will review your documentation and possibly complete a new escrow analysis that may reduce your monthly escrow deposit.
 

Please remember, only your taxing authority or insurance company can change the amount we pay on your behalf from your escrow account.  You must contact them directly to dispute the invoiced amount(s).

 
Please contact our Tax department if you have applied and been awarded a disability exemption on your property.  These exemptions can drastically reduce your property tax bills.  It is important that you file the proper exemption documentation with the county.  Guardian cannot change your tax escrow account until the county recognizes your exemption and provides an effective date in writing.

If your loan is not delinquent and your escrow account has a surplus of funds at the time of your escrow analysis in January, Guardian Mortgage will automatically send you a refund check for the surplus amount over $50.00. The refund checks are mailed prior to March 1.

A surplus in your escrow account is usually created by a reduction in your property tax bill or homeowner’s insurance premium.

Please contact our Customer Service Department to submit your request for cancellation. Once your request is received, we will review your account and advise you of the requirements for cancellation.

A few requirements are:
No mortgage payments 30 days or more past due in the last 12 months.

No mortgage payments 60 days or more past due in the last 24 months. Borrower-initiated cancellation can be based on the original value. The original value of the property is determined as the lesser of either the sales price of the property securing the mortgage, as reflected in the sales contract, or the appraised value of the property at the time the subject property was purchased.

Borrower requested termination based on property appreciation (current value) is subject to investor guidelines.

Yes, given certain circumstances. For certain conventional loans (single-family, single unit, owner-occupied homes closed after 7/29/99), PMI will be terminated at the earlier of the following:
1) The date that the mortgage balance is first scheduled to reach 78% of the original value of the property.
OR
2) The first day of the month after the date that is the mid-point of the mortgage amortization period.

 

The original value of the property is determined as the lesser of either the sales price of the property securing the mortgage, as reflected in the sales contract, or the appraised value of the property at the time the subject property was purchased.

In order to qualify for automatic cancellation, the payment due in the month before the termination date and any outstanding late charges must have been paid by the end of the month before the termination date. If this is not the case, the PMI must be canceled later if, and when, the payments become current.

Click here for instructions.

Mail: Guardian Mortgage, P.O. Box 833890 Richardson, TX 75083-3890

E-mail: [email protected]

Phone: 800.331.4799 or 972.690.1871
Fax: 800.859.8670

If you have had a legal name change send the following information to the Customer Service department:

A copy of the official document showing your name was changed.

A signed letter from you requesting your name to be changed on our records. 

Sign into your account in the ‘My Account’ portal and edit your account information in the ‘Contact Details’ section under the ‘Personal Profile’ menu.

 

OR

Email Customer Service with your new mailing address and/or phone number. Make sure to include the mortgage loan number and your name.
 

Year-end statements of interest paid on your loan (IRS Form 1098) are mailed prior to January 31 and are also available through the ‘My Account’ online portal. (where you can download and print your 1098)

Currently, Guardian Mortgage finances homes in nearly 40 states. See our state map.

In order to determine the right loan for your needs, consider the following:
• What amount of liquid funds do you have available for a down payment and costs at closing?
• How long do you intend to own the home?
• Are there any derogatory credit items in your credit history?
• What are your short-term and long-term financial goals?

• Ideally, how many years would pass before the home loan is paid off?

• Are there any upcoming financial obligations or events to consider (e.g., college tuition, etc.)
• Do you have a stable income stream (base salary) or do you have a variable income stream (self-employed or commission income)?
• How much future interest rate risk and volatility are you willing to assume for a lower rate in the short term?

Selecting the wrong mortgage program can cost you thousands of dollars over time; no single loan program is the right fit for everyone.

The required down payment can depend upon the home loan type (Conventional, Government, Jumbo, etc.). However, we do have mortgage loan programs available that allow up to 100% financing with a minimum down payment of $500 on 1-unit properties. Some buyers may also qualify for a Down Payment Assistance (DPA) Program that will help ease the up front cost of the down payment.

You must contact a loan originator to lock in your rate before you have assigned contract. Your loan originator will get some information about your specific mortgage loan requirements, your desired loan product, and credit score.

No, you do not need to order the appraisal yourself. If an appraisal is required, Guardian will contact an appraiser. The appraiser will contact the Realtor (for a purchase) or you (for a refinance) to schedule a time to review the property. On purchase loans, the appraisal will be ordered when you have made loan application and a fully executed contract is received. On refinance transactions, the appraisal will be ordered at the time of loan application, if required. Cost for the appraisal will be included in the closing costs.

Yes, you will receive a copy of your appraisal.

If you are purchasing a property which lies within a Special Flood Hazard Area (SFHA), federal law requires you to maintain and provide proof of flood insurance coverage. This premium is separate from your Homeowner’s Insurance Premium and is also paid at closing. Flood zones and maps can change. Your property may be deemed as being in a SFHA in the future. Guardian Mortgage will notify you if flood insurance becomes a requirement on your loan due to any change in flood map or zone.

The minimum amount of flood insurance coverage is (1) the unpaid principal balance of your loan – up to 100% of replacement cost of the insurable improvements – or (2) 80% of the full replacement cost of the insurable improvements as shown on the homeowner’s policy – whichever is higher. The deductible may not exceed $1,000.00 or 1% of the policy’s insurance limits. The policy must cover the risk (zone) as disclosed on the Flood Zone Determination.

The industry average for closing costs is approximately 2% to 3% of your loan amount. Typically, Guardian Mortgage has closing costs below this average. A mortgage loan originator will provide you with a loan estimate (LE) outlining your estimated closing costs. These estimates will change if you change the product type or loan amount. You will also receive a closing disclosure (CD) prior to closing to finalize the cash to close.

When you refinance, you may be able to include all, or some, of your closing costs into the new loan amount. Much of this is dependent upon your loan-to-value (LTV) and the type of loan program you choose. Please contact your mortgage loan originator for details.

There is a cost to process, underwrite, and prepare closing documents for all loans. Therefore, many of your costs will be duplicated when you refinance your loan with Guardian. However, in some cases certain costs from the purchase can be avoided with the refinance (i.e., appraisal and survey). Please contact your mortgage loan originator for details.

Mail: Guardian Mortgage, Attn: Insurance, P.O. Box 833890, Richardson, TX 75083
E-mail: [email protected]
Phone: 800.331.4799 or 972.690.1871
Fax: 866.728.4250

Guardian Mortgage, ATTN: Insurance, P.O. Box 3368, Carmel, IN 46082-3368
E-mail: [email protected]

Phone: 800.331.4799 or 972.690.1871

Fax: 866.728.4250
 
Policy and renewal information should be sent to the Insurance Department by mail, email or fax. See the section above for contact information.

Please ensure that Guardian Mortgage is listed on the policy. Our mortgagee clause should read as follows:

Guardian Mortgage, a division of Sunflower Bank, N.A. ISAOA
P.O. Box 3368
Carmel, IN 46082-3368

Our investors require minimum coverage equal to the lesser of the following:
100% of the insurable value of the improvements, as established by the property insurer; or
The unpaid principal balance of the mortgage, as long as it equals the minimum amount – 80% of the insurable value of the improvements – required to compensate for damage or loss on a replacement cost basis. If it does not, then coverage that does provide the minimum required amount must be obtained.
The maximum allowable deductible is 5% of the policy’s insurance limits.
Minimum-Insurance-Worksheet.xlsx

If you are purchasing a home, please send your homeowner’s insurance information to your loan officer or loan processor. The “declarations page” should be supplied at least two weeks prior to closing. Typically, the first year’s insurance premium is paid by you prior to closing or will be paid to your insurance company by the Title Company or attorney handling your closing. If you have an escrowed loan, your insurance renewal premium will be paid each year by Guardian Mortgage using funds from your escrow account.
If you are a current customer, and have qualified to have a “non-escrowed” loan, we will still need to get copies of your homeowner’s insurance renewal information each year to prove that the property is still adequately insured.
Your insurance company will provide Guardian proof of renewal automatically each year. If you need to send a copy please email or fax to [email protected] or 866.728.4250.

If your loan has an escrow account, your insurance renewal premium will automatically be paid each year using funds from your escrow account. If you have a “non-escrowed” loan, it is your responsibility to keep the property adequately insured. When proof of sufficient insurance coverage has lapsed, been canceled, or has not been received, Guardian Mortgage will obtain an insurance policy for the dwelling only – not the contents or liability — as a last resort. This situation is called “Force-Placed Coverage” and is designed to protect our interest in your property as the lender. Again, this is a last resort and Guardian Mortgage will make every effort to notify you ahead of time if we have not received the renewal or verification of sufficient coverage, before we force-place insurance on the property.

Force-placed insurance can be quite costly. The premium for this policy will be charged to your escrow account, if you have one in place. If you do not have an escrow account with us, one will be created for you. This coverage will be different and most likely more expensive than your personal coverage. If we are forced to obtain this insurance, we will cancel it when you provide us with proof of coverage under your own policy.

Yes, you do have the option of changing your insurance company at your discretion, as long as it is with a reputable company. Written authorization is required when changing insurance companies. Please email your request/authorization to [email protected] and include the name of the new insurance carrier and agent, if applicable. When the new insurance declarations and premium invoice are received, payment will be disbursed from your loan escrow account, if applicable. We will need your replacement policy prior to the expiration of the current policy. Cancellation of the old insurance provider is your responsibility.

Please keep in mind that if you change your insurance policy and company before your current policy expires, you may not receive a full refund from your current insurance company.
 

This information can be found in the ‘Transaction History’ section of your account in the ‘My Account’ portal.

If you have not signed up for the ‘My Account’ portal, then you can contact our Customer Service Department at 800.331.4799 or 972.690.1871 and our Customer Service Representative will provide you with the date the premium was paid and the amount of the premium.

When you contact your insurance company and file a claim for damage, your insurance company will issue you a check to cover the damage to the property. The check will typically be issued in the names of both the property owner and the lender, since the lender has an interest in ensuring that the damaged property is repaired. Therefore, Guardian Mortgage will need to endorse (sign) the check before it can be cashed.

Please contact our Customer Service Department at 800.331.4799 or 972.690.1871 for instructions on how to get the check endorsed. Certain claim amounts may require additional supporting documentation such as the insurance adjusters or licensed contractor’s estimate of repair. In the case of some larger claims, funds are not immediately released, instead, draws are made and inspections are required.

Guardian Mortgage, a division of Sunflower Bank, N.A.
ISAOA

PO Box 833890

Richardson, TX 75083

We require written authorization to change insurance companies. Please email your authorization to [email protected], naming your new carrier and agent if available. When the new declarations and invoice are received, we will disburse from your escrow if applicable. You are responsible for canceling with the old insurance provider.

Please be sure to return the refund to us to credit your escrow account. You may send a personal check to Guardian Mortgage for the amount of the refund—reference your loan number and state that it is for escrow - or, you may forward Guardian the check from your previous carrier. If you forward, please write on the back of the check, “pay to the order of Guardian Mortgage”. Please be sure to have all recipients sign underneath this statement. Mail the check to Guardian Mortgage, Attention: Insurance Dept., P.O. Box 833890, Richardson, TX 75083. Alternatively, you may deposit the funds via the Guardian website – guardianmortgageonline.com – under the “My Account” portal. You can do this with your next payment, or on its own by marking the box for additional escrow. If you are not making a payment, be sure to uncheck the “pay now” selection and check only the escrow box.

Note: You will not be able to add to the escrow if your monthly mortgage payment is due for that month.

The minimum insurance amount is the lower of:
100% of replacement cost of the dwelling; or

The maximum insurance available from the National Flood Insurance Program (currently $250,000); or the unpaid principal balance of the mortgage

Deductible may not exceed $5,000.00

Mail: Guardian Mortgage, Attn: ACH, P.O. Box 833890, Richardson, TX 75083

E-mail (preferred method): [email protected]

Phone: 800.331.4799 or 972.690.1871
Fax: 800.859.8670

1) By Mail:
 Guardian Mortgage
 P.O. Box 833890 Richardson, Texas 75083-3890

(Please include loan # on check or include a coupon or statement and allow 3-5 business days for receipt of payment)

2) Online using the ‘My Account’ portal, ‘Payment Options’ menu on the left of the screen

3) ACH (Automatic monthly payments), and can be set up using the ‘My Account’ portal, ‘Payment Options’ menu on the left of the screen ACH-Agreement.pdf

 4) Phone pay system by calling 855.577.3384 and following the prompts

ACH Agreement
Sign into your account in the ‘My Account’ portal and complete the ‘Auto Payment Setup’ under the ‘Payment Options’ menu.

OR

Fill out and return the ACH form from your closing package or print and complete the ACH Authorization form and send to the ACH department. A confirmation will be sent to you as receipt of your letter.

Guardian Mortgage will process a test (pre-note) transaction with your bank to verify the account number.
Please continue to make home loan payments until you receive the confirmation letter notifying you of the first draft date.

ACH will continue as long as your account remains in good standing or until you request a change.

The draft will occur on the next banking day.

ACH with Guardian Mortgage is FREE!

If you have “overdraft protection” your bank will cover the amount using their guidelines. If your account is NSF (non-sufficient funds) or if the ACH is dishonored for any reason, we will assess an NSF fee to your account and contact you for your home loan payment.

Sign into your account in the ‘My Account’ portal and edit your account information in the ‘Auto Payment Setup’ section under the ‘Payment Options’ menu.

OR

Complete an ACH Change Request form with your updated account information. When changing your bank account or routing number, it is vital that you note what date the change will take place and include a voided check or savings deposit slip with your request. You can contact Customer Service for a form. 

Email [email protected] or send a written request to the ACH department with your name, mortgage loan account number, and the effective date of cancellation. 

Yes. Once you set up your account within the ‘My Account’ portal, you can make payments on your loan using a checking or savings account. Please have your bank account information handy.

ACH stands for Automatic Clearing House and is the term we use for our automatic payment program. For more information about ACH click here.

Payments are due on the first day of every month. Guardian has a 15-day grace period. Online and phone payments are date and time stamped when complete. Your payment must be completed by midnight CST on the 16th or a late fee will be assessed.

Making your payment on time is essential to maintaining a good credit rating. If for some reason you cannot make a full payment on time, please contact us at 972.690.1871 or 800.331.4799. Early notification allows us sufficient time to work with you to resolve your payment issues.

Yes, you can pay off your mortgage early by making additional payments to principal. Payments can be made to principal at any time.

Use the Early Payoff calculator to calculate how much earlier you can pay off your loan. For assistance please contact your loan officer or the Customer Service Department.

By mail options:
Option 1: Include the amount with your regular monthly payment. Write the amount to be applied to principal on your coupon.

Option 2: Mail a separate check from your monthly payment check. Write “Additional Principal” along with your account number in the memo field of the separate check.

Online – ‘Pay Right Now’ section of the ‘My Account’ portal:
When making your normal monthly payment online, additional principal can be applied by entering the amount in the ‘Additional Principal’ field and marking the checkbox to include the amount in the ‘Total Payment’.

ACH online – ‘Auto Payment Setup’ section of the ‘My Account’ portal:

You may add, change, or remove the amount of additional principal taken out of your bank account for your monthly payment.

ACH by mail:

Contact Customer Service and request an ACH Change Request form

Complete and sign the form

Return the form to Guardian Mortgage via mail, email, or fax.

Allow at least two business days from date of receipt of the request for the change to be processed. A confirmation letter will be mailed to you once the change has been made.

You may adjust or remove the amount of additional principal at any time.

If you have a certain type of conventional loan and would like to make a significant payment to your principal balance, you have the option of modifying, or “recasting” your loan. This means that your loan is modified to allow you to make a lower monthly payment based on your remaining principal balance, your current interest rate, and the remaining term of your loan. There is a one-time processing fee to recast. If you would like to see the effect “recasting” might have on your loan, please contact the Customer Service Department at 972.690.1871 or 800.331-4799 for details.

Online Payment Steps:
1) Select the ‘My Account’ tab at the top of the GuardianMortgageOnline.com page or go directly to My.GuardianMortgageOnline.com.
2) Sign into your account
3) Select the ‘Payment Options’ menu on the left of the screen
4) Select ‘Pay Right Now’

ON THE PAY NOW FORM:
5) Mark the ‘Monthly Payment’ checkbox
6) Add any additional funds for Principal, Escrow or Fees Due and mark the associated checkbox
7) Confirm the ‘Total Payment’ amount
8) Select ‘Submit’

ON THE ACCOUNT NUMBER ENTRY PAGE:
9) Select ‘Continue’

ON THE PAYMENT ENTRY PAGE:
10) Enter your banking information
11) Enter your email address (the payment acknowledgment will be sent to this address)
12) Select ‘Continue’

ON THE PAYMENT CONFIRMATION PAGE:
13) Check “I have read and accept the above terms and conditions.”
14) Select ‘Accept’.

ON THE YOUR PAYMENT HAS BEEN APPROVED PAGE:
15) Select ‘Print’ to print a copy of the approval for your records.

16) Select ‘Exit’ to return to the Guardian Mortgage Online site or close the browser.

17) Verify the information on the email confirmation is correct.

To make more than one payment on a loan follow ALL online payment steps for each payment. Each payment must be processed as a separate transaction.

Note: Do NOT put the regular payment amount in the Additional Principal or Additional Escrow fields to make more than one payment.

No. The Additional Principal and Additional Escrow fields are added to the regular payment amount for the select loan. To make more than one regular payment, each payment must be processed as a separate transaction.

Payments submitted on any business day before 6:00 PM CT:

• Will post to your account with Guardian on the following business day.
• Will post to your bank account in 1-2 business days.

Payments submitted on any business day after 6:00 PM CT OR any non-business day:

• Will post to your account with Guardian in two business days.
• Will post to your bank account in 2-3 business days.

Payments made for the current month after 11:59 PM CT on the 16th day of the month or thereafter will be assessed a late fee.

Online payments with Guardian Mortgage are FREE!

If you have “overdraft protection,” your bank will normally cover the amount using their guidelines. If the payment is returned for NSF (non-sufficient funds), we will assess an NSF fee to your account and contact you for payment.
More than two returned payments during a 6-month period will cause your account to be blocked from making any further online payments.

Once you click “Confirm,” payment is final and cannot be canceled.

Additional amounts can be applied to both principal and escrow along with your normal monthly payment. Enter the amount in the appropriate box on the “PAY NOW” form. Confirm the “Total Payment” amount is correct.

Online payments can only be accepted from a checking or savings account.

This is a one-time payment. To setup recurring payments use our convenient ACH program. 

At this time payments are not accepted with a future date.

We are unable to process your payoff through our online payment system. Please call our payoff department at 972.690.1871 or 800.331.4799 for further information.

For additional information regarding online payments please contact the customer service department 800.331.4799 or 972.690.1871

US Mail Delivery Address:
Guardian Mortgage, a division of Sunflower Bank, N.A.
Attn: Payoff
P.O. Box 833890
Richardson, TX 75083-3890

Overnight Delivery Address:
Guardian Mortgage, a division of Sunflower Bank, N.A.
Attn: Payoff
2701 N. Dallas Parkway, Suite 180
Plano, TX 75093

E-mail: [email protected]
Fax: (866) 728-4249

Wires and cashier’s check are accepted.

Wiring Instructions:

Account Number:                   109400256
ABA/Routing Number:           101100621
Bank Name:                            Sunflower Bank, N.A.
Bank Address:                        1400 16th Street, Denver, CO 80202
Credit To:                                Guardian Mortgage, a division of Sunflower Bank, N.A.

Cashier’s Check:  

US Mail Delivery Address:
Guardian Mortgage, a division of Sunflower Bank, N.A.
Attn: Payoff
P.O. Box 833890
Richardson, TX 75083-3890

Overnight Delivery Address:
Guardian Mortgage, a division of Sunflower Bank, N.A.
Attn: Payoff
2701 N. Dallas Parkway, Suite 180
Plano, TX 75093

A payoff amount consists of the unpaid principal balance plus accrued interest, outstanding fees and expenses.

Approximately two weeks after your loan is paid in full, a check will be issued payable to all Borrowers (individuals who signed the Promissory Note) of the mortgage loan and mailed to the last known mailing address on file.

Within 30 days of receipt of payoff funds, Guardian will provide you with the original promissory Note marked “Paid In Full” along with a copy of the recorded Release of Lien or Satisfaction/Discharge of Mortgage.

Contact the Payoff Department by phone or [email protected].

Sign into your account on the ‘My Account’ portal and submit a ‘Payoff Request’, under the ‘Accounts’ menu item.

Why is there a difference between the payoff amount and the principal balance?

Yes. It is important that you continue to remit your monthly mortgage payment as you normally would. If your payment is made using an automatic payment (ACH), it is important to notify us at least 10 days in advance of the next scheduled payment draft. Payments received after the closing of the home but before your payoff funds are received will be refunded to you along with the funds remaining in your escrow account. Payments received after your loan payoff is received and posted will be returned to you.

Approximately two weeks after your loan is paid in full, a check will be issued to all persons named on the note. The check will be mailed to the mailing address in our system.

 

Approximately 90-120 days from the date your loan was paid in full, a 'discharge' or 'release of lien' will be mailed to you at the mailing address in our system.

Paying off your home is different than paying off your car with a lien, there is no "title" to your home that you receive once your mortgage is paid off. When you purchased your home, you were given a copy of the "Warranty Deed" at closing. The seller executes this document and transfers title of the property to you. A copy of this document can be obtained from your county clerk's office for a nominal fee. 

Guardian will accept a cashier's check, wire from your bank, or we can electronically draft from your bank account with your authorization. 

No. It is your responsibility to notify your homeowner's insurance company and your local taxing authorities that you can no longer carry a mortgage on your home.

A pre-qualification analysis is typically the result of information shared between a mortgage lender and a potential mortgage borrower and usually does not incorporate information obtained from a credit report. It is the opinion of the loan officer that the borrower would qualify for the home loan, given the verbal information provided by the potential borrower. The end product for a pre-qualification analysis will be a “ballpark” estimate of the maximum mortgage amount for which you may qualify.