In addition, within five (5) business days of receipt of a payoff, Minnesota Housing must receive the corresponding Loan Paid in Full Statement form. 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. Set up single payment or automatic, electronic withdrawals. View scheduled transfers and payments for all your Wells Fargo accounts in one place. Put the property address and loan number on the payoff check or cover letter.