Edit, sign, and share private mortgage payoff letter template online. No need to install software, just go to DocHub, and sign up instantly and for free.The City of San José processes requests for payoff demands of existing homebuyer and home repair loans, and affordability restrictions (i.e. 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 sample payoff letter for private mortgage online. A letter of explanation is your chance to answer any questions a lender might have about your loan application. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment.