A payoff request can be created and mailed for free. How long does it take to obtain a payoff?The online form is quick and easy to use. Be sure to have the loan and borrower information ready when you make your request. The first step is to get in touch with your lender or loan servicer. You can find their contact information on your monthly statements. 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. LOAN PAY-OFF REQUEST FORM. This form must be completely filled out and submitted along with all required documents.