Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.List ALL OF YOUR PROPERTY AND DEBTS, those of your spouse, and joint property and debts. Do not leave any category blank. 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. You get a letter from the bank stating you paid off your vehicle and to look out for the title.