Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. 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. Below you will find links to useful forms and documents for easy and convenient access. This program allows lenders to input data about their potential veteran-borrower and obtain an eligibility determination, in most cases, in a matter of seconds. Provide banking services in the trade area. All forms should be filled out completely.