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.Our Payoff Letter template facilitates easy loan settlements. This document clearly outlines the final payment amount, including any interest or fees. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Most escrow or title companies have a simple demand form you can request and fill out detailing the payoff. A personal loan agreement is a contract between two parties, generally a borrower and a lender. It outlines how much is borrowed, how it's repaid and more.