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.Do you need a loan payoff request form? To request payoff on your existing Mortgage 1 loan, submit this form. Weekends and holidays) to acknowledge your letter. The servicer has extra time to respond to errors or requests for information in a few situations:. The payoff letter will be available after 2 business days from the date of the request. Up to, but not including, the day the payoff funds were received. All other FHA mortgage loans (regardless of the date they were endorsed for MI). A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc.