Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.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. Discover videos related to Send Letter to for Mortgage Payoff on TikTok. 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. I received a quote from the bank for the payoff amount. The Vehicle Payoff Sample Letter form is a crucial document for individuals aiming to transfer their vehicle loan to the State Department Federal Credit Union. It is a way of consolidating all of your debts into a single loan with one monthly payment.