Login You are here: Blog Home Your Mortgage Understanding your monthly mortgage statement Understanding your monthly mortgage statement Posted on Jan 23, 2019, 9:50:59 PM GMT Your billing statement has a great deal of information to help you understand your mortgage. To get acquainted with different parts of your mortgage statement, watch this informative video. Looking for a little more detail? Read below for a more in-depth look at your mortgage statement. We’ve organized it by sections. Freedom Mortgage Contact Information This section of your mortgage statement provides contact information for our Customer Care team, including hours of operation and our website address. You can also email our representatives at CustomerCare@freedommortgage.com Below this is your mortgage account number. Be sure to keep it handy when calling Customer Care, as they will use this to reference your account. You’ll also find your payment due date and the amount due in this box. Account Information The account information box contains important information regarding your Principal, Interest Rate, and Escrow. Principal is defined as the amount of money owed on the mortgage loan, not including interest. The interest rate is the amount charged by the lender to borrow money, expressed as a percentage. If you have a fixed rate loan, this rate will remain the same. If you have an adjustable rate loan, you will be notified in advance of any changes to your rate. The Escrow balance is the amount being held for payment of property taxes, homeowner’s insurance, and mortgage insurance (if applicable) when those bills come due. If Escrow is included in your monthly payment, we pay these bills on your behalf when they become due. Explanation of Amount Due This section breaks down how your payment is allocated each month. This normally includes Principal, Interest, and Escrow, as well as any Fees or Charges. Transaction Activity Your detailed information of fees, charges, and payments over the course of the last month are listed in this section. Past Payment Breakdown Your past payment breakdown contains two parts. Listed on the left is your last month’s payment, including a detailed account of how the funds were applied. On the right is the total amount paid during the calendar year, detailed in a similar fashion. Important Messages To ensure you remain informed about your loan account, each billing statement includes an important messages section. Here you will find any alerts or messages regarding your account. Be sure to check this space often. Amount Due The bottom section of your billing statement contains the total amount due and the due date. It also indicates when the grace period will end; you may be charged late fees if payment is not made by the end of the grace period. Included on this slip is the payment address. This bottom section of your billing statement is detachable, allowing you to easily send a check by mail. Alternatively, you can set up automatic recurring payments online. See these steps to help you get set up. Questions about your mortgage statement? Please contact us at CustomerCare@freedommortgage.com or by calling (855) 690-5900. Representatives are available to assist you Monday through Friday from 8 am - 10 pm and Saturday 9 am - 6 pm Eastern. Facebook external website opens in a new window Twitter external website opens in a new window Linkedin external website opens in a new window Related Posts: How to set up automatic recurring payments to Freedom Mortgage Freedom Mortgage customers can enjoy the convenience of scheduling automatic mortgage payments online! Look for your 2020 mortgage interest tax statement To download a copy of your Form 1098, log into your Freedom Mortgage account and select "Statements" from the right-hand menu. My loan has been "Sold". What does that mean? It’s natural to wonder what it means when the servicing rights to your loan are “sold” to a new servicer. Contact Us 855-690-5900 Contact our Customer Care team Experiencing financial difficulties? We’re here to help you. Account Log In New Customers Pay My Mortgage Register My Account COVID 19 Information About Us Who We Are In the Community Careers Loan Types Conventional Loans FHA Loans VA Loans USDA Loans Divisions Correspondent Lending Wholesale Services Roundpoint Traditional Retail 951 Yamato Road, Boca Raton, FL 33431 United States | Lender NMLS ID: 2767. NMLS Consumer Access. Equal Housing Opportunity. Disclosures | © Freedom Mortgage Corporation.