Each "point" is equal to one percent of the mortgage amount. 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. With low, fixed personal loan rates and no application fee, AZFCU's Personal Loans are great for debt consolidation and all your personal loan needs. Pre-approval letters let the borrower know the exact terms of the loan amount, down payment requirements and monthly payments. Discover banking solutions designed to help your money grow, great loan rates and more. Bank with Credit Union West in Yavapai and Maricopa County, Arizona. Access resources and support for managing and repaying your student loans from the Repayment Counseling Center at University of Phoenix. The application must be complete. Incomplete applications will be returned to the applicant.