Edit, sign, and share payoff letter template online. No need to install software, just go to DocHub, and sign up instantly and for free.Please accept this as my authorization to issue a payoff statement to. Through an effective date of . A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. A payoff statement or a mortgage payoff letter will typically show the balance you must pay in order to close your loan. 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. To fill out commonly used tax forms for individuals and businesses. U.S. Government Printing Office, Washington: 1967.