Use Final Payment when a payment pays off the loan or the agency is closing out the remaining loan balance. A regular payment that would fully pay the principal balance is blocked so staff can use the dedicated final payment workflow.

When To Use Final Payment

Use Final Payment when:

• The payment pays the loan in full
• The agency is accepting a short payoff
• The payer is sending more than the payoff amount
• The loan should be marked Paid in Full after saving

What Final Payment Does

Saving a final payment marks the loan Paid in Full, clears remaining due fields, records payoff ledger activity, and prevents older payments from being deleted unless the final payment is reversed first.

For self-amortizing loans, CDM may use the appropriate grant-style closed status instead of ordinary Paid in Full handling.

Payoff Amounts

CDM calculates final payoff balances as of the payment date. These balances can include:

• Remaining principal
• Unpaid fees
• Unpaid interest
• Accrued interest through the payoff date
• Pending late fees when applicable

Final Payment Confirmation Popup

Before saving a final payment, CDM confirms that the payment will mark the loan Paid in Full, clear due fields, and restrict deletion of older payments until the final payment is reversed.

If the payment includes a short payoff write-off or overpayment, the confirmation message highlights that amount.