If you need a template, click here to download borrower authorization template. 20 MB max file size.A payoff statement is a document that shows how much money a borrower must submit to fully pay off a loan. 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. If the borrower misses payments, then the loan goes into default and the lender can sell the property to pay off the loan. Learn more about mortgage financial hardship and mortgage payment assistance options. View our mortgage financial hardship FAQ for additional information.