Mortgage Statement Template

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A mortgage statement gives homeowners vital information about their loan. Most lenders mail borrowers a monthly mortgage statement along with the latest loan information, payment breakdown, late payments, and other pertinent loan details. However, when you get electronic or automatic payments set up or receive electronic mortgage statements, it is easy to neglect your statements. Missing a mortgage statement can dramatically alter your financial picture and make your home loan experience less than satisfactory. Here are some helpful tips to remember when preparing your mortgage documents.

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When you use a mortgage statement template, you will be given a ready-made template which contains several fields that can be filled in. These fields include personal information, credit scores, filing status (deferred or current), employment history, marital status, and more. Depending on your lender, some lenders may require additional information to verify your data. Be sure to double check all the boxes and enter as much information as possible. Make sure to save all the forms and documents that are needed for the documentation process and be sure to provide exact quotes from all mortgage lenders.

After completing your personal information fields, it is time to turn to the most important documents: your income statement, expense statement, and credit report. Your income statement shows your total income and includes your expenses; the expense statement shows where and how you spent your money each month and what you have paid out. The credit report highlights your borrowing history. For example, if you have applied for a number of loans and not been approved, your credit report will reveal this information. If there is a history of missed payments, bankruptcies, and foreclosures, your credit report will disclose this too.

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Once you have filled in all your documents, you can begin the process of creating the loan application and creating your mortgage statements. Many lenders offer free printable loan applications online; you should find a lender offering one that fits your needs. The majority of lenders require that you submit your documents via fax, email, or both so you will want to choose a method of document delivery that is easy for you to use. Some mortgage lenders will allow you to print your mortgage statements from their website and send them via email, but this may be limited to some lenders.

When you are finished, you will have completed your first mortgage statement. It is important to keep mortgage statements up to date because mistakes can cost you. One mistake may mean that you pay less per month than you should, or perhaps you will have to pay for remediation that will cost you thousands. By keeping your mortgage statements updated, you are protecting yourself, your financial future and the value of your home.

Sample Documents
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In addition to keeping your mortgage agreements and loan documents up to date, a mortgage statement template will help you keep track of any legal documentation that is needed when negotiating the terms of your loan with your lender. This type of legal document may include a deed of trust, insurance policies, power of attorney, insurance policies, CDs, or other records. A template will make it easier to locate and read these important documents during the application process. Keep all of your necessary paperwork in one place and you will be able to focus on the application process and knowing that you have all of your information in order and at your fingertips.

Mortgage statement templates are available at no cost to you. Simply searching online will bring you to dozens of sites where you can download free templates for your use. Look for mortgage agreement templates that have a money back guarantee or trial offers to test drive their software. You want to get a feel for how the software package works before you make any commitment to purchasing it. Many templates are available for immediate use; just give the short trial run a try before you buy if you are not completely sure you like it.

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Your best bet for finding the right mortgage statement template for your needs is to find a company that provides several free templates so you can compare the different features and functions. Some programs will allow you to download the documents as a Word document while others will require you to download the programs required to upload the files. Whichever way you choose, you will be able to quickly create a final product that can serve as a valuable reference for future financial planning and business transactions.

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