Paying off your mortgage early can save money in the long run. Mechanics Bank has been named one of America's best banks based on growth, credit quality and profitability, according to Forbes.The lender will release the electronic lien and DMV will mail you a paper title to the address on file. Mortgage points, also known as discount points, are fees you pay a lender to reduce the interest rate on a mortgage. Use this tool to review your Loan Estimate to make sure it reflects what you discussed with the lender. What's a payoff statement? What happens once I pay off my home loan? Paying off your mortgage early can save money in the long run. Become a member and become a part of our community. Gain financial confidence for today, tomorrow and the future.