Payoff Information for Lenders
To request a payoff of an existing HAP or First-Time Homebuyer loan, lenders or escrow officers must submit the following documents. Incomplete requests will not be processed and will be returned.
Required Documents for Payoff Request:
- Payoff request on company letterhead (must include borrower and loan details).
- Preliminary Title Report dated within the last 30 days.
- Recent Appraisal (must reflect current market value).
- Escrow-Certified Settlement Statement with processing fees payable to the City of Perris (see Housing Authority Fee Schedule below). An escrow certified statement is required once the payoff calculation is received from the Housing Authority and prior to payoff demand being released. Settlement statement should include the following and related processing fees payable to the “City of Perris” as two separate line items referenced as follows:
- City of Perris Housing Authority Payoff (payoff amount)
- Payoff Requests: $850
- Resubmittal fee: $400 (applies if an incomplete file is returned and later resubmitted; this fee is the lender’s responsibility and cannot be charged to the homeowner).
Please Note: A final settlement statement will be required at close of escrow once the payoff demand is provided. Processing fees may be paid at closing. A certified settlement statement must be received PRIOR to the City releasing a payoff demand or executed subordination agreement.
Submission Instructions:
Please contact the Housing Authority at 951-435-7216 or perrishousing@cityofperris.org.
Processing Time & Requirements:
- The payoff process takes 7-14 business days (excluding holidays).
- Expedited services are NOT available. Lenders or Escrow officers must submit requests at least 30 days before closing.
Subordination Information for Lenders
For refinance and other transactions that do not involve equity removal, cash-out, or a change in property ownership, please download the updated Subordination Package below.
HAP Subordination Policy and Agreement Request Package (2024)
Processing Time & Submission Requirements
- The process takes 7-10 business days (excluding holidays).
- Expedited services are NOT available lenders or Escrow Officers must submit requests at least 30 days prior to closing.
- Faxed or emailed documents are NOT accepted.
- All documents must be dropped off in person or mailed to
City of Perris Housing Authority
11 South “D” Street
Perris, CA 92570
Fees & Payment
- Subordination processing fee: $650, payable at close of escrow.
- Resubmittal fee: $400 (applies if an incomplete file is returned and later resubmitted; this fee is the lender’s responsibility and cannot be charged to the homeowner).
- Fees must be referenced to the settlement statement prior to closing.
Important Notes for Lenders & Escrow Officers
- Incomplete files will be returned unprocessed and are subject to resubmittal fees.
- A complete package must include all required documents as outlined in the City of Perris Subordination Checklist & Acknowledgement Form to avoid delays.
Housing Authority Fee Schedule
- Payoff Demand Requests: $850
- Subordination Requests: $650
- Resubmittals: $400
(Perris Housing Authority, approved September 27, 2016)
Please Note: The City of Perris has previously offered other housing loans that may require different payoff and subordination processes than those outlined above. For more information or clarification, please contact the Housing Authority Program Coordinator at (951) 435-7216 or perrishousing@cityofperris.org.
