Looking for a payoff amount? Visit any MVD office where a vehicle inspection will be conducted.Provide the inspection document to your lienholder who will process the corrected title. How to fill out the Payoff Request Letter Templates? Make sure to review your address with us and your state's Department of Motor Vehicles (DMV), and make any necessary updates before completing your payoff. Apply for a title within 15 days of purchase and take the application to an MVD Office or Authorized Third Party provider to complete the process. 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.