Payoff Information for Lenders
To request a payoff of an existing HAP or First Time Homebuyer loan, please provide the following documents:
1. Payoff request on letterhead
2. Preliminary report dated within 30 days
3. Recent appraisal
4. Escrow certified settlement statement with processing fee payable to the “City of Perris” (see Housing Authority Fee Schedule). An escrow certified settlement statement is required once the payoff calculation is received from the Housing Authority and prior to payoff demand being released. Settlement statement should include payoff amount AND related processing fees payable to the “City of Perris” as two separate line items referenced as follows:
City of Perris Housing Authority Payoff
City of Perris Resubmittal OR Payoff Processing Fee
A final settlement statement at close of escrow will also be required once payoff demand has been provided. Processing fees may be paid at closing. A “certified” settlement statement referencing related fees is required PRIOR to the City releasing a payoff demand or executed subordination agreement.
Mail or hand-deliver all documents to:
City of Perris Housing Authority
135 North D. Street
Perris, CA 92570
Faxed or emailed documents are NOT accepted.
The process takes 7-14 business days to complete—excluding Fridays and holidays. Please be advised that we do not offer expedited services and require that the lender or escrow submit requests at least 30 days prior to closing.
Subordination Information for Lenders
For refinance and other transactions that do not include the removal of equity, cash-out, or change of property ownership, please download the Subordination package below.
HAP Subordination Policy and Agreement Request Package (2016)
(Download)
The process takes 7-10 business days to complete—excluding Fridays and holidays. Please be advised that we do not offer expedited services and require that the lender or escrow submit requests at least 30 days prior to closing. Faxed or emailed documents are NOT accepted.
See our #Housing Authority Fee Schedule below for related processing fees. Processing fees may be paid at close of escrow. Fees must be referenced on settlement statement prior to close.
Lender/Escrow: Please be advised that incomplete files will be returned unprocessed and are subject to additional fees upon resubmittal. Missing information and/or missing documents constitute an incomplete file and will be returned unprocessed. Please be sure to submit a “complete” package to avoid resubmittal processing fees.
(Perris Housing Authority, approved September 27, 2016)
