This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.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. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Helping to fill out the request for service application, and could have staff help refer the applicants for other programs. Persons in need of special assistance to participate in the meetings of the Housing. 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.