Contents of a Payoff Quote/Letter. To pay off a loan, you must find out the exact amount needed to satisfy the debt. You do this by requesting a payoff quote, which is also sometimes called a payoff letter or payoff statement. The payoff letter will include exactly how much you must pay by a specified date to satisfy the debt. The quote will include the unpaid principal balance and interest, plus any fees and costs. (These are similar to those listed above for a reinstatement). The payoff letter will also include wiring instructions, as well as instructions for how to pay by check. The payoff quote may also describe how much you should adjust the payment if you decide to pay a few days before or after the given payoff date.