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. In the "Loan Payoff" box, click View Payoff Quote. Click CONTINUE to submit the payoff quote request. 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. This overview highlights the key data presented in the Federal Housing Administration (FHA). The Testing Definition Templates for each of the mortgage loans in the sample of loans.