First Horizon Bank Loan Payoff Quote: How to Get One

A First Horizon Bank loan payoff quote is the lender’s statement of the amount needed to pay a specific loan in full on a specified date. Contact First Horizon through its official website, the phone number on your statement, or a branch to request the quote; the exact process and available options can depend on the loan type.

What a payoff quote tells you

A payoff quote is different from the balance shown on a routine statement or online account page. A regular balance may reflect the principal remaining at an earlier posting date. A payoff figure is calculated for a particular date and may include interest that accrues between the last payment and the date the payment is expected to arrive, as well as applicable charges shown by the lender.

The quote should identify the amount due, the date through which that amount is valid, and payment instructions. It may also explain what happens if the payment arrives after the quoted date. If it does, the lender may require additional interest or a revised amount; ask First Horizon how to handle any difference rather than assuming the original figure remains current.

“Payoff” ordinarily means satisfying the debt in full, not merely making the next scheduled installment or paying the current principal balance. If you want to pay extra without closing the loan, ask how to make a principal-only or additional payment instead.

How to request a First Horizon quote

Use a contact method listed on a First Horizon statement, its official website, or other verified account materials. Do not rely on an unsolicited message or a search-ad phone number to provide banking details. Tell the bank that you need a full payoff quote and specify the date you expect the payment to reach it—not just the date you plan to send it.

1. Identify the loan using the account information requested through the bank’s authenticated channel.
2. Ask for a written payoff quote good through the anticipated payment date.
3. Confirm the total, its expiration date, delivery or payment instructions, and any treatment of a payment received late.
4. Ask whether the bank needs a separate instruction or form to close the account after payment.
5. Keep the quote and proof of payment, then check that the loan is shown as paid off once the transaction has been processed.

For privacy, provide account details only after you have independently confirmed that you are communicating with the bank. If someone else is handling the request—for example, a title company or another lender—ask First Horizon what authorization it requires before releasing loan information.

Information to have ready

Having basic details available can help the bank locate the account and calculate the appropriate date-specific amount. Requirements may differ by loan and by the way the request is made, so follow the bank’s instructions.

• Your name and identifying account information, supplied through a verified channel.
• The loan or account number, if available.
• The date the payoff payment is expected to arrive.
• The reason for the request, if relevant, such as selling collateral or replacing the financing.
• Contact details or written authorization for a third party, if another party must receive the quote.

If you are paying from a sale or refinance, coordinate the expected closing and payment dates with the parties involved. A closing date can change, and a quote prepared for an earlier date may no longer cover the amount due.

Why the payoff can differ from the displayed balance

Interest commonly accrues over time, so the amount required to close a loan can be higher than a principal balance displayed between payment dates. The lender calculates the figure using the loan’s terms and the requested payoff date. Depending on the account, other amounts or adjustments may also appear; use the itemization and explanations in the actual quote rather than guessing at them.

For example, suppose an account page shows a principal balance of $10,000. That does not establish that $10,000 will settle the loan on a later date. If interest accrues before the payment is credited, the date-specific payoff could be different. This example illustrates why the bank’s quote, not an informal calculation from the displayed balance, is the amount to use.

Do not add an assumed fee or use a generic online estimate as a substitute for the lender’s figure. If an item on the quote is unclear, ask First Horizon to explain it and confirm whether the amount changes after the stated good-through date.

Payment, posting, and confirmation

Follow the payment instructions in the quote exactly. Confirm the payee, destination, reference or account information, accepted payment method, and any timing guidance directly with the bank using verified contact details. A payment being sent does not necessarily mean it has been received and applied on that same date.

Allow for processing and delivery time when choosing the requested payoff date. If the payment may arrive late, contact the bank for an updated amount or instructions for settling any remaining difference. Keep confirmation numbers, transfer records, or other proof of payment. After processing, verify that the loan has been closed or paid in full and ask how any excess payment, if one occurs, will be handled.

For a loan secured by a vehicle or property, payoff and release of the associated lien or title process may be separate administrative steps. Ask the bank what confirmation to expect and whether you or another party must complete anything else. The timing and procedure depend on the loan and relevant arrangements.

Common mistakes and safety checks

• Using an old quote: A quote is date-specific. Request a new one if the payment date changes or the stated validity period passes.
• Paying only the displayed balance: A current balance may not include interest through the date the payoff will be credited.
• Confusing extra payment with payoff: State clearly whether you intend to close the debt or make an additional installment.
• Sending funds to unverified instructions: Confirm payment details through an official bank channel, particularly if instructions arrive by email or text.
• Skipping final confirmation: Check that the payment posted and the loan is recorded as satisfied; retain relevant records.

A request for a quote should not require you to share passwords, one-time verification codes, or full account credentials with an unverified caller. If a communication seems suspicious, stop and contact First Horizon using details from a statement or its official website.

Frequently Asked Questions

How do I get a First Horizon Bank payoff quote?
Request it through a verified First Horizon contact method, such as the official website, the phone number on your statement, or a branch. Ask for a written quote valid through the date the payment is expected to arrive.

Can I get a payoff quote online?
Available online options can vary by account and loan type. Sign in through First Horizon’s official website or contact the bank to learn whether your specific loan can receive a payoff quote online.

Why is the payoff amount higher than my balance?
The displayed balance may not include interest that accrues up to the payment date, and the lender may include other account-specific amounts or adjustments. Review the quote and ask the bank to explain any item you do not recognize.

How long is a payoff quote valid?
The quote should state the date through which its amount applies. Do not assume it stays valid beyond that date; request an updated figure if payment is delayed.

Does a payoff quote close my loan automatically?
No. It states the amount and instructions for paying the loan. Follow the instructions, allow the payment to be processed, and confirm with the bank that the account is paid in full and any related release steps are addressed.

Related

• Loan Application vs Down Payment Assistance: Key Differences
• Loan Application Online? Estimate Monthly Payments
• Loan Application Letter: What to Include and How It Works