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. Obtain a Nevada promissory note template to establish loan terms, such as the principal amount, interest rate, and repayment obligations. A payoff letter provides instructions on how to pay off a loan with a lump sum before the loan term ends. Learn how payoff letters work. In the "Loan Payoff" box, click View Payoff Quote. Click CONTINUE to submit the payoff quote request. The HLS should be included in the school's registration packet that a parent fills out to enroll their child.