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.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. The payoff demand processing fee is paid in escrow. Please see more information in the Payoff Demand Instructions. Applying for a home equity loan or line of credit is considered as cash-out and is not permitted under the EMPOWER Program.