Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.The template below can help you write your own pay for delete letter. Simply update the bolded portions with your own information. All mortgage payments are due on the 1st of each month. Your Note allows a 15-day grace period; however this does not mean that your payment is due on the 16th. 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. Do you have questions? Letter Mortgage Sample.