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.A payoff request can be created and mailed for free. How long does it take to obtain a payoff? 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. How to fill out the Payoff Request Letter Templates? Montgomery County does not require any further action after the payoff of a mortgage loan. A payoff request can be created and mailed for free. How long does it take to obtain a payoff?