The first step is to get in touch with your lender or loan servicer. You can find their contact information on your monthly statements.Paying your loans is easy! A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc. Learn more about what a payoff quote is and how to request one. The online form is quick and easy to use. Be sure to have the loan and borrower information ready when you make your request. In a Nutshell​​ A payoff statement is a document that shows how much money a borrower must submit to fully pay off a loan. A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends.