This form is furnished to give you a statement of actual settlement costs. Mortgage lenders ask for a letter of explanation to better understand your finances when determining whether to approve you for a loan.All mortgage payoff letters tend to contain similar information, including: • Payoff amount: The amount of money that would satisfy the loan. Edit, sign, and share lien payoff letter template online. No need to install software, just go to DocHub, and sign up instantly and for free. For an official statement verifying your existing mortgage balance, monthly payments, and any late payments, please complete a 3rd Party Authorization form. Will there be tax implications to paying off your mortgage? Application for Assistance. Payoff or paydown of debt solely to qualify must be carefully evaluated and considered in the overall loan analysis.