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Questions about your Arvest home loan?
We're here to help!
Being a homeowner may feel a little daunting, but Arvest is here to help you access and manage your new mortgage account. Below are some common questions and answers our customers find useful. And if you still have concerns, don’t hesitate to contact us for more info.
Easily access your Arvest mortgage online account.
To create an online account, you’ll need your mortgage loan number. You can find your mortgage loan number on your billing statement. If you are a new mortgage customer, you will receive a letter with this loan info about 10 days after your closing date. From there, it’s easy to create an online account. Get started here.
With online access, you will be able to:
- Get loan info: next payment due date, payment amount and history, outstanding balances, escrow info and more
- Make payments: make one-time online payments or enroll in autopay to draft your payment each month automatically
- Document Center: view online statements, year-end tax statements and more.
While the physical copy of your 1098 will be mailed by Jan. 30 of each year, you will also be able to access your end-of-year statement via your online account.
Upon logging in to your mortgage account:
- Select “Documents”
- Select “Taxes”
- View your available tax forms
For further information about your end-of-year tax forms, please call 800-366-2132 or complete the contact form on our website.
There are multiple ways you can pay your mortgage, from mailing a payment to making a one-time payment online.
We recommend enrolling in autopay to automatically draft your payment each month. This convenient and easy way to pay will check one task off your list as a new homeowner.
Upon logging in to your mortgage account:
- Select “Enroll in Autopay” next to your mortgage payment amount due
- Enter your financial institution’s information and your account details.
- Select the day you would like your payment to draft
- Read the Terms and Conditions
- Select the checkbox indicating you’ve read the Terms and Conditions and choose “Authorize Enrollment.”
Escrow Answer Guide
As your mortgage loan provider, we collect funds and hold them in an escrow account to pay required items on your behalf, like property taxes, homeowners insurance and mortgage insurance. This ensures adequate funds are available when these items are due.
At least once each year, we perform a review of your escrow account to make sure the funds in your account will be enough to pay these required items in the coming year. We provide you with the results in an “escrow analysis statement.”
- Any changes to your monthly payment amount
- Actual payments from your account in the last 12 months
- Projected payments from your account in the next 12 months
- The amount of any shortage or surplus in your required minimum monthly escrow account balance.
This is the most common question customers have when they receive their escrow analysis statement. The most common reasons your escrow payment could change are:
- Fluctuations in your property tax bills, including changes to tax rates or assessed property value, as determined by your local taxing authority.
- Changes in your homeowners, mortgage or other insurance, including changes to your premium due date
Contact your local taxing authority and/or your insurance agent if you have questions about changes to these rates.
If you prefer not to have the total shortage divided into 12 equal payments and added to your monthly mortgage payment, you may contact our Customer Care Center to discuss other payment options. However, if your taxes and/or insurance have increased from the previous escrow cycle, your payment may still go up even if you pay the entire shortage.
If your escrow analysis identifies a surplus of more than $50, and the loan is current, it is refunded to you. If the surplus is less than $50, it will be used to reduce the future mortgage payment.
Most likely, yes. This is because your taxes were based on “unimproved land,” meaning your taxes were determined by the value of the land your home was built on without a building or facilities.
Now that your home is finished, the taxing authority can fully assess your property (land and house) which will most likely increase the tax amount significantly. An escrow shortage may occur if the taxes being collected are not based on the estimated real estate property tax, so make sure you keep an eye on your escrow account.
- Your total annual property taxes + total property insurance amounts, Divided by 12 = your monthly unadjusted escrow payment
- + monthly mortgage insurance (if applicable)
- +/- (shortage/surplus escrow payment) ÷ 12 = monthly shortage/surplus
- Monthly unadjusted escrow payment + monthly mortgage ins + monthly shortage/surplus = new monthly escrow payment
Keep in mind that an escrow cushion or required reserve equal to two monthly escrow deposits (excluding mortgage insurance) may be required to cover unanticipated disbursements or disbursements made before your escrow funds are available in the account.
Your escrow account may be eligible for removal once certain requirements are met. Please contact our Customer Care Center for escrow removal requirements. An escrow waiver fee may apply in some states.
You may also contact our Customer Care Center at (800) 366-2132 or view your account online at https://mymortgage.arvest.com.
Equal Housing Lender