Promissory Note Payoff Letter Sample with Examples Word. Depending on your lender, you may have to sign in to an online account, call a helpline, or send a formal letter to start the request process.A secured lender shall prepare and deliver a payoff demand statement to the person who has requested it within fourteen days after receipt of the demand. The mortgage payoff statement is a document that provides a comprehensive breakdown of the remaining balance on a mortgage. Use SmartAsset's free Arizona mortgage loan calculator to determine your monthly payments, including PMI, homeowners insurance, taxes, interest and more. Jon Mount is a New American Funding mortgage professional who is focused on customer service and offer competitive pricing on home loans. "Payoff amount" is generally higher than the remaining balance on the home. Income Shares away, throw it all the way out. Homeownership Initiative? Position Overview Ensures thorough and accurate creation of servicing statements, packaged loan files, and all related documentation.