This Payoff Transmittal Letter serves as a formal request to close your loan account. Case 1 (Borrower Requesting a Paid-Off Letter): Subject: Request for Loan Closure Confirmation and Mortgage-Related Documents.A payoff statement is a document that shows how much money a borrower must submit to fully pay off a loan. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. Click on Payments and then click on Request Payoff. 504. Payoff of first mortgage loan. 103. Settlement charges to borrower (line 1400). 403. 108. Assessments. 408. A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work.