This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. First you need to know what the payoff figure is. 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. It should include specific details such as the loan account number, outstanding balance, and contact information. Interested in borrowing money for a mortgage, personal loan, or auto loan? Read through these common FAQs with Fifth Third Bank to learn more and apply.