A mortgage payoff letter can come in two forms. One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. "Payoff amount" is generally higher than the remaining balance on the home. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. The mortgage payoff statement is a document that provides a comprehensive breakdown of the remaining balance on a mortgage. Consistent with the wide ranging approaches characteristic of teaching and scholarship in writing across the curriculum, the series presents works that take. The amount to reinstate or pay off your loan changes daily.