A payoff request can be created and mailed for free. How long does it take to obtain a payoff?A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work. 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 gives you the most accurate and uptodate payment information. Call our 24-hour automated service dedicated to payoff quotes at 1-877-505-2894. You'll choose your good-through date up to 30 days. Depending on your lender, you may have to sign in to an online account, call a helpline, or send a formal letter to start the request process.