Say you have a mortgage and want to know exactly how much you'd need to pay to satisfy the loan. A mortgage payoff letter will tell you that magic number.Do you need a loan payoff request form? A 10day payoff refers to the time it takes for your new lender to pay off your old loans during a refinance. 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 process your request as quickly as possible, complete the online Loan Payoff Quote form, send a written request or call our Loan Servicing department.