Q: How do I determine mortgage payments? 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. "Payoff amount" is generally higher than the remaining balance on the home. Step 1: Get the payoff amount and instructions. The SAVE plan is an incomedriven repayment (IDR) plan that calculates payments based on a borrower's income and family size not their loan balance. Get the money you need to claim the vehicle you want. BMO vehicle loans work for new and used cars, along with boats, RVs, and motorcycles. Ensure that borrowers never see their balance grow as long as they keep up with their required payments. 1. 1. Enter the name and contact information of the mortgage servicer.