You’ll automatically receive a billing statement as soon as your payment is processed. In case we don't receive your funds within the grace period, a statement will automatically be issued during the middle of each month. Your statement will include the amount, due date, details about your payment history, and all the additional information explained below.
1. Amount Due
Here you’ll find the statement date, your loan number, and your payment due date. You can log in to your account when you’re ready to make a payment, or even set up AutoPay.
2. Account Information
An overview of your outstanding principal balance, interest rate, and other information.
3. Explanation of Amount Due
A breakdown of how your payment is allocated by principal, interest, and escrow. Other items like fees and your unapplied balance (i.e., funds paid that have not yet been applied to your account) will also be included.
4. Past Payment Breakdown
A breakdown of how (i) your last payment was allocated and (ii) all of your payments, from the beginning of the year to now, have been allocated.
5. Statement Activity
Any activity since your last statement that causes a credit or debit to the amount currently due, as well as any escrow activity.
6. Payment Coupon
If you’d like to make out a physical check to Valon, you can include the payment coupon when you send payment in the mail to ensure prompt processing and to allocate additional funds.