Edit, sign, and share private mortgage payoff letter template online. No need to install software, just go to DocHub, and sign up instantly and for free.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. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. What is a payoff letter? A payoff letter is a written document from a seller's mortgage company stating the amount of money needed to pay the loan in full.