A payoff request can be created and mailed for free. How long does it take to obtain a payoff?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 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 mortgage payoff statement is a document that provides a comprehensive breakdown of the remaining balance on a mortgage. Use a standard business letter format with your name, contact information, and the date at the top. Montgomery County does not require any further action after the payoff of a mortgage loan. How to fill out the Payoff Request Letter Templates?