This Payoff Transmittal Letter serves as a formal request to close your loan account. Say you have a mortgage and want to know exactly how much you'd need to pay to satisfy the loan.A mortgage payoff letter will tell you that magic number. Do you need a loan payoff request form? 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. Loan payoff statements tell borrowers how much they must pay to close out a loan. Due to interest, etc.