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.The purpose of the letter is to describe why the borrower may not be able to make their mortgage, car loan, or other debt payments. Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. Include the loan or mortgage number. This is an example of a payoff letter used in a syndicated loan transaction. This payoff letter (including the defined terms such as Lenders,. View answers to the most frequently asked questions from Orange County's Credit Union Members. Low, competitive rates and flexible terms to suit your budget.