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 document is a debt payoff letter from a debtor to a creditor. How to fill out the Payoff Request Letter Templates? 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. You can search for, get copies of, or update property ownership records, such as deeds and mortgages. A deed is often referred to as a title. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.