This Payoff Transmittal Letter serves as a formal request to close your loan account. Do you need a loan payoff request form?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 standard practice is to obtain written authorization from the borrower to provide a payoff quote to the title company. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. This form is furnished to give you a statement of actual settlement costs. ContractsCounsel has assisted 37 clients with payoff agreements and maintains a network of 28 financial lawyers available daily. 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.