A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. Statement from us will be required.If loan has quotable per diem interest, then "Funds received after ______ will be. By including a per diem amount in the letter, the parties will not have to execute another payoff letter if the termination date. Searching for a fillable Mortgage Loan Payoff Letter Template? Use our easy editor for PDF files and fill this form out quickly. It also often gives information on how best to deliver the payoff funds, etc. It's the payoff amount 10 days in the future. Your 10day payoff letter is crucial to ensuring that your new lender sends the correct amount of money so there is no outstanding loan balance left over. The per diem (daily) interest amount can be found within your payoff demand letter.