A payoff letter shows the remaining balance on your mortgage, including fees, interest, etc. Learn more about what a payoff quote is and how to request one.All mortgage payoff letters tend to contain similar information, including: • Payoff amount: The amount of money that would satisfy the loan. 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 need a loan payoff request form?