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.Please allow 1-3 business days for the payment to post to the Treasurer's database. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. The mortgage payoff statement is a document that provides a comprehensive breakdown of the remaining balance on a mortgage.