It lays out each fee and dollar still due before you completely pay off your mortgage. Here's how it works.The mortgage payoff statement is a document that provides a comprehensive breakdown of the remaining balance on a mortgage. "Payoff amount" is generally higher than the remaining balance on the home. 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. If your payoff can't be generated, please contact us at 800-365-7772. A mortgage payoff statement offers a clearer picture to the true cost of paying off your loan. 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.