Repayment of loan
Vanderbilt Mortgage has multiple mortgage payment options:
Online payment. The customers can use their accounts to make payments, set up automatic payments, and review their payment history.
Automatic payment. There is an option to enroll for Payment Auto Draft for free. Vanderbilt Mortgage will draft the mortgage payments when they are due. Payments can be scheduled up to 14 days prior to the due date. The automated payments won’t be allowed if there are more than two due payments on the loan.
Pay by phone. This payment option is available 24/7. You will need to provide your checkbook info, loan number, and the borrower’s zip code. The payments are posted the same day if you call the company during business hours. There is a fee of $10 maximum for phone payment assistance.
Check or Money Order. You can mail your payments with an included payment coupon and provide your loan number. The fee can be up to $30 for a returned check.
Money transfer service. MoneyGram ExpressPayment allows you to make payments with a fee of $8.95.
To obtain your payoff quote, log into your account, call the customer service, fax the request, or send an email. You can cover the loan cost by monthly or biweekly payments.
Early payoff
Vanderbilt Mortgage doesn’t usually set prepayment penalties, meaning you can opt to pay your mortgage early. However, the company advises you to double-check your loan agreement to be sure there is no fee.
