In this comprehensive guide, we'll explore the ins and outs of payoff letters, their purpose, and how to write one properly. A mortgage payoff statement can be a useful piece of documentation for some borrowers to request.The mortgage payoff statement is a document that provides a comprehensive breakdown of the remaining balance on a mortgage. It also often gives information on how best to deliver the payoff funds, etc. It's more akin to a form letter, rather than a periodic statement. "Payoff amount" is generally higher than the remaining balance on the home. How to fill out the Payoff Request Letter Templates?