A lender's payoff statement or letter will show the amount you need to pay to completely close out the loan. A Payoff Request Form is an essential document for those looking to fulfill the remaining balance on a home equity line of credit.This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc. Learn more about what a payoff quote is and how to request one. A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc. Learn more about what a payoff quote is and how to request one. One way to fix an error on your credit report is to write a credit dispute letter and mail it to one or more credit bureaus. A mortgage payoff letter will tell you that magic number.