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Annual Mortgagor Statement
What Is an Annual Mortgagor Statement?
An annual mortgagor statement is a yearly document provided by a mortgage lender that summarizes the borrower’s mortgage activity, including total payments made, interest paid, and remaining loan balance.
Why It Matters
This statement helps homeowners track their mortgage progress, prepare for taxes, and understand how much interest they’ve paid over the year.
How It Works
The statement typically includes:
- total mortgage payments made
- interest paid during the year
- principal reduction
- escrow payments (taxes and insurance)
- remaining loan balance
It is often used for tax reporting purposes.
Example
A homeowner receives a statement showing they paid $12,000 in mortgage payments, including $8,000 in interest.
Annual Mortgagor Statement vs Loan Statement
- Annual mortgagor statement summarizes yearly activity.
- Loan statement is typically monthly.
FAQs About Annual Mortgagor Statement
Is it needed for taxes?
Yes, especially for mortgage interest deductions.
When is it issued?
Usually at the beginning of the year.
Can it be accessed online?
Often through lender portals.
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