Your mortgage statement contains important information about your loan balance and monthly payments. See what's included in this guide.A mortgage lender might ask you to write a letter of explanation to better understand your finances when deciding whether to approve you for a loan. Balances Prior to Billing Transactions are Shown Below – Displays balances, as of the statement date, for the following accounts: • Principal. How do I fill this out? The Know Before You Owe mortgage disclosure rule replaces four disclosure forms with two new ones, the Loan Estimate and the Closing Disclosure. This form is furnished to give you a statement of actual settlement costs. This will show you, amongst other things, your principal and interest, mortgage insurance, escrow amounts, and cash to close. Liabilities and Pledged Assets. Master Form 1098, the Mortgage Interest Statement, to maximize your tax deductions with easy steps and FAQs.