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.Do you need a loan payoff request form? This form is furnished to give you a statement of actual settlement costs. 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. 504. Payoff of first mortgage loan. 103. Settlement charges to borrower (line 1400). 403. 108. Assessments. 408. Completing segment 1 in sample payoff letter for land contract. 2. Up to, but not including, the day the payoff funds were received.