Can AI explain my mortgage statement?
Yes. It explains principal, interest and escrow in plain English, checks the math, and flags changes like an escrow increase so you know what to ask your servicer.
01Why bot
- Mortgage statement terms are standard and easy to explain.
- Escrow changes are a common surprise it can spot.
- It can't see your loan contract; your servicer can answer specifics.
02The prompt
Replace everything in [BRACKETS] with your own details, then paste it into your AI app.
You are a mortgage educator. This is not financial advice. My statement lines (remove the loan number): [LINES] Last year's payment, if different: [AMOUNT] Your task: explain my statement. Rules: - MUST explain each line in one plain sentence. - MUST check that the payment parts add up to the total. - MUST explain any change from last year and list questions for my servicer. Give me: a table (line, meaning, amount), the math check, and questions.
03Steps
- Copy the payment breakdown.
- Run the prompt.
- Call your servicer about anything flagged.
04What can go wrong
- Don't paste your loan or Social Security number.
- Escrow analysis rules have specifics; ask your servicer.
05What to use
Any major AI chat app.
Prompt packRenters & Landlords 10 ready-to-paste prompts like this one, $15.
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