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.The first step in paying off the remainder of your loan early and getting a mortgage lien released is requesting a payoff letter from your lender. 1 Settlement Statement is a form used to itemize services and fees charged to the borrower in a real estate transaction. Send sample payoff letter for private mortgage via email, link, or fax. You can also download it, export it or print it out. This is an example of a standard mortgage loan commitment letter that would be issued to a New York City condo or coop apartment buyer. A payoff request can be created and mailed for free. How long does it take to obtain a payoff? Expected payoff date is November 2024.