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.What types of mortgages do you offer? This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. Purchase or refinance your home with a mortgage solution from Fulton Mortgage Company. Learn more about available home loan options. 1)Got a letter from mortgage holder about two weeks after payoff. During the two weeks it took me to get that payoff letter Third Federal closed my loan.