A payoff letter is a document that provides detailed instructions on how to pay off a loan. A payoff statement should include the name and address of the lender preparing the statement and be addressed to the lender that requested the payoff.The repayment terms are stated in full in the Subsidy Mortgage and Subsidy Note. Please complete all applicable fields below. This form is furnished to give you a statement of actual settlement costs. Do you need a loan payoff request form? The release form sometimes also referred to as a Release of Debt Form, a Loan Satisfaction Letter, or a Promissory Note Payoff Letter. What are the details I should include in the loan closure letter? Commercial Loan Payoff Request Form (pdf format) – Use this form to request a Commercial Loan Payoff.