A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish.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. Send sample payoff letter for private mortgage via email, link, or fax. You can also download it, export it or print it out. One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan. I want to pay off my mortgage loan, so I called the servicer to ask how much it would cost. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free.