Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.Edit, sign, and share mortgage payoff statement template word online. No need to install software, just go to DocHub, and sign up instantly and for free. The Deed of Trust must be in a format the Sacramento County Recorder's Office will accept. 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.