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.If you need a template, click here to download borrower authorization template. 20 MB max file size. Download newest version of Mortgage Payoff Land Contract Form • Customize, fill out, and submit online • Sizable directory of various templates and PDFs. 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. If you need a template, click here to download borrower authorization template. 20 MB max file size. Notarizing your agreement is also recommended. 1.