What Is a Mortgage Statement in Real Estate?
A mortgage statement is a monthly summary from your lender showing your loan balance, interest, escrow payments, and the amount due. It provides homeowners and FSBO sellers with an up-to-date look at where their loan stands before closing.
📄 Key Details on a Mortgage Statement
- Outstanding balance: The current unpaid principal amount.
- Payment breakdown: Lists how much goes to principal, interest, taxes, and insurance.
- Escrow information: Shows how property taxes and insurance are managed if escrowed.
- Account activity: Recent payments and year-to-date totals for transparency.
🏠 Why It Matters for FSBO Sellers
Your mortgage statement helps confirm how much is owed before you list or close. When selling FSBO through Brokerless, this document ensures your mortgage payoff amount is accurate and ready for title company verification at closing.