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.
Sponsor slot · openFeatured tool for this task. A labeled card for one relevant tool.
Book this spot →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. Before you send your answer, silently check that you did ALL of these, and fix your answer if not: - Explain each line item in exactly one plain sentence. - If a prior-period or last-year figure is given, explain what changed and why in one plain sentence.
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.
06Our test runs
2 runs, each with a different made-up sample. 1 of 2 passed every check.
Run 1 · Llama 3.3 70B · graded by GPT-OSS 120BOct 11, 2026Passed with a catch
The made-up sample:
[LINES]Principal: $800.00 Interest: $500.00 Escrow – Property Tax: $150.00 Escrow – Homeowners Insurance: $30.00 Mortgage Insurance Premium (MIP): $20.00 Total Payment: $1,500.00[AMOUNT]$1,450.00
- Explain each line item in exactly one plain sentence
- Check that the payment parts add up to the total
- Explain any change from last year in one plain sentence
- Provide a table with line, meaning, amount
- Didn't make up details we never gave it
What came back (excerpt):
The math check: $800 (Principal) + $500 (Interest) + $150 (Escrow – Property Tax) + $30 (Escrow – Homeowners Insurance) + $20 (Mortgage Insurance Premium) = $1,500 (Total Payment), which adds up correctly. The payment increased by $50 from last year, which may be due to changes in property taxes, insurance rates, or interest rates.
Read the full answer
Here's the explanation of your statement: | Line | Meaning | Amount | | --- | --- | --- | | Principal | The amount paid towards the loan balance | $800.00 | | Interest | The amount paid towards the loan interest | $500.00 | | Escrow – Property Tax | The amount paid towards property taxes | $150.00 | | Escrow – Homeowners Insurance | The amount paid towards homeowners insurance | $30.00 | | Mortgage Insurance Premium (MIP) | The amount paid towards mortgage insurance | $20.00 | | Total Payment | The total amount paid towards the mortgage | $1,500.00 | The math check: $800 (Principal) + $500 (Interest) + $150 (Escrow – Property Tax) + $30 (Escrow – Homeowners Insurance) + $20 (Mortgage Insurance Premium) = $1,500 (Total Payment), which adds up correctly. The payment increased by $50 from last year, which may be due to changes in property taxes, insurance rates, or interest rates. Questions for your servicer: - What caused the $50 increase in the total payment from last year? - Are the property taxes or insurance rates expected to change in the future? - Is the Mortgage Insurance Premium (MIP) required for the entire loan term? - Can the escrow payments be reviewed and adjusted to ensure accuracy?
Ensure each line explanation is a complete sentence.
Run 2 · Llama 3.3 70B · graded by GPT-OSS 120BNov 7, 2026Passed
The made-up sample (a messier one):
[LINES]Principal: $1,180.00 Interest: $845.00 Mortgage Insurance: $150.00 Escrow - Property Tax: $310.00 Escrow - Homeowner Ins: $78.00 Adjustment (Prev. credit): -$25.00 Late Fee: $0.00 Total Payment: $2,638.00[AMOUNT]$2,450.00
- Explain each line in exactly one plain sentence
- Check that the payment parts add up to the total
- Explain any change from last year in one plain sentence
- Provide a table, the math check, and questions for the servicer
- Didn't make up details we never gave it
What came back (excerpt):
The payment parts add up to the total: $1,180 + $845 + $150 + $310 + $78 - $25 = $2,538, but this does not match the total payment of $2,638, suggesting there might be an error or an unaccounted item.
Read the full answer
Here's the explanation of your statement: | Line | Meaning | Amount | | --- | --- | --- | | Principal | The amount paid towards the loan's principal balance | $1,180.00 | | Interest | The amount paid towards the loan's interest | $845.00 | | Mortgage Insurance | The amount paid for mortgage insurance | $150.00 | | Escrow - Property Tax | The amount paid towards property taxes | $310.00 | | Escrow - Homeowner Ins | The amount paid towards homeowner's insurance | $78.00 | | Adjustment (Prev. credit) | A credit adjustment from a previous period | -$25.00 | | Late Fee | The amount paid for late payment, which is zero in this case | $0.00 | | Total Payment | The total amount paid towards the mortgage | $2,638.00 | The payment parts add up to the total: $1,180 + $845 + $150 + $310 + $78 - $25 = $2,538, but this does not match the total payment of $2,638, suggesting there might be an error or an unaccounted item. The payment increased from last year by $188, indicating a possible change in interest rates, insurance, or tax rates. Questions for your servicer: 1. What caused the increase in the total payment from last year? 2. Can you explain the discrepancy between the sum of the payment parts and the total payment? 3. How is the mortgage insurance premium determined and can it be removed or reduced? 4. Are the escrow payments for property taxes and homeowner's insurance accurate and up-to-date? 5. What is the current interest rate on the loan and how does it affect the monthly payment?
How each run works: we fill the prompt with a made-up sample, run it once in Llama 3.3 70B, and GPT-OSS 120B grades the answer against the prompt's own rules. Word limits are counted by code, and every quote flagged as made up is checked against the full answer. Your results can differ. How we test.
Prompt packRenters & Landlords 10 step-by-step prompts that go further than this one, $15.
See what’s inside →