Com or fax in the request to (201) 839-4512. What are some of the key elements of a mortgage payoff letter?Filling out this form is straightforward. 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. A live check is actually an unsolicited loan offer. The lender is the institution that made the loan. When we receive a request for the payoff balance of a loan, we will issue a payoff demand statement. Getting pre-approved means that your mortgage lender has already approved a full loan amount for your home loan.