Yes! You can read more about the other templates here and here.
Just go to Settings - under "Templates" you can select the template type that you want to save. For creating forms, pick "Text"
Give the template a name and add the text that you want to keep using.
Save it
The next time you create a note:
pick the text template, then click this icon (image below) to see the template name you just saved.
All it takes is one tap/click and it will load your custom form or letter.
No need to use MS Word, textpads or Pages.