Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.A 10 day payoff is crucial to getting your old loans paid off during a refinance. Learn how it works from start to finish. Customize and Download this "Bank Payoff Letter". Paying off your mortgage early can save money in the long run. In this comprehensive guide, we'll explore the ins and outs of payoff letters, their purpose, and how to write one properly. Request a payoff quote before you send your final payment. Request a payoff quote before you send your final payment. This is a standard form of payoff letter.