Discharge Statement

Once you are ready to pay off your mortgage in full (yay!) a discharge statement will be provided by your Lender. This statement details the amount required to pay off a mortgage as well as any terms and conditions that must be met before the lender will release the Borrower (and any Guarantors) from their obligations under the mortgage agreement and release the lender’s claim on the borrower’s property. Once the remaining amount has been paid off and all of the conditions have been met, the Lender will discharge the mortgage from title to the property of the Borrower.

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About The Author

Don Scott

Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.

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Managing Uncertainty in Today’s Mortgage Market

By Don Scott • May 27, 2025

Feeling hesitant about entering the housing market today due to political or economic uncertainty is understandable. The landscape can seem unpredictable—interest rates shift, housing supply fluctuates, tariff news hits the headlines and policies change. As a mortgage broker, we see this uncertainty every day. But here’s the truth: while there is much beyond your control, mastering the factors that you can control is what will make the biggest difference in your journey to homeownership.