Once all documentation is received DHCD requires a minimum of 10 business days to research and review the request. 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. A mortgage payoff statement details the total amount needed to fully pay off a loan as of a specific date. This form is furnished to give you a statement of actual settlement costs. It's important to note that you can make a letter of explanation more compelling with supporting data and paperwork. All the forms and documents you need for originating, underwriting and closing Virginia Housing single family mortgage loans are available in electronic format. This form is a statement of final loan terms and closing costs. Compare this document with your Loan Estimate. The notes are owned by, or titled in the name of, a third party (for example, mortgages that are subject to a sale and repurchase arrangement); or.