Please accept this as my authorization to issue a payoff statement to. Through an effective date of .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. To get a payoff letter, ask your mortgage lender for an official payoff statement and let them know what the projected closing date is. In other places, it can be as high as three to four times your monthly mortgage costs.