Com or fax in the request to (201) 839-4512. 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. • The Note Form must match the legal documentation requirement as described in the product description. A versatile form template designed to facilitate the process of requesting specific information from individuals, organizations, or businesses. Say you have a mortgage and want to know exactly how much you'd need to pay to satisfy the loan. A mortgage payoff letter will tell you that magic number. A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work. A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc.