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.We will only issue a payoff good through the next Change Date. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. A payoff statement or a mortgage payoff letter will typically show the balance you must pay in order to close your loan. The Texas Catholic Conference Payday Lending Roadshow Listening Session Transcripts.