Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started.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. Our Payoff Letter template facilitates easy loan settlements. This document clearly outlines the final payment amount, including any interest or fees. This is an example of a payoff letter used in a syndicated loan transaction. A loan agreement is a legal document between a creditor who lends money to a borrower that is repaid with interest. Seller Loan Accrued Interest. Nothing brings more joy to my heart than a fresh lawsuit delivered to my door nice and early in the morning.