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.This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. Make several copies of the application form so that you can fill it out in draft form before filling out the final copy that you will submit. How do I get a copy of my deed?