Payoff Request Form. First name, Last name, Account Number (optional), Phone, Street address, Apartment, suite, etc.Use a standard business letter format with your name, contact information, and the date at the top. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Arrange for payoff of loans. The seller should advise its bank of the projected closing date and request a pay-off letter. 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. Get free refinancing quotes for your homestead mortgage.