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.This Payoff Transmittal Letter serves as a formal request to close your loan account. A payoff statement should include the name and address of the lender preparing the statement and be addressed to the lender that requested the payoff. It is intended to be a simple agreement made between family members. If interest is charged, the lender cannot impose more than the state's usury rate. This is an example of a payoff letter used in a syndicated loan transaction. An example of where to include late payment fees in a loan agreement. It is intended to be a simple agreement made between family members. If interest is charged, the lender cannot impose more than the state's usury rate.