Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.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. Include the loan or mortgage number. Use a standard business letter format with your name, contact information, and the date at the top. If you receive this form in a small claims case, contact a lawyer. Empower Federal Credit Union in Central and Southern Tier NY offers a section of frequently asked questions for members. Andrews when due, Ms. Andrews had to arrange alternative financing to pay off her own mortgage loan. The letter-of-credit is undrawn at December 31, 1996 and matures in June 1997.