This form is furnished to give you a statement of actual settlement costs. Purchaser pays total price in cash.Agreement to transfer title to the property after terms of the contract have been fulfilled. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than . 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? Mortgage that allows for a periodic adjustment of the interest rate. The Mortgagor shall pay when due all obligations which, if unpaid, would become a lien on the Property.