Man talking on cell phone in his kitchen

Billing statements can sometimes be confusing. There’s the overall payment, but what are you really being charged for? Your mortgage payment is made up of the principal, interest, taxes, homeowners insurance and sometimes homeowners association dues.

Here at Quicken Loans, one of our ISMs – or company philosophies – states, “Simplicity is genius.” With that in mind, we’ve designed our billing statement so it’s easy to find the information you need.

Before we take a guided tour of your billing statement, we do have a change to when we send our statements that will go into effect starting in November, so we wanted to make you aware of it.

When You’ll Get Your Statement

In the past, we’ve sent your statement after a full payment was applied to your loan. On occasion, this meant that some clients received multiple statements in one month. We understand you get a lot of mail and don’t want to add to the pile unnecessarily.

Beginning in March 2019, you’ll still get your billing statement, but it will be sent between the 12th and 15th of every month. This means we’ll be sending all statements about two weeks prior to your bill being due on the 1st.  This ensures that only one statement per month will be sent to Quicken Loans clients. This statement will show your payment activity from the last statement up to the eighth of the month. All activity beyond that point will be reflected on the statement for the next month. For example, the statement period would run between Feb. 8–March 8. This also means that your statement’s “Last Paid” or “Loan Activity” sections may be showing with no payment activity. If you are looking for information pertaining to your previous transactions, you can reference your previous statements or view your Transaction History on®.

Your payment will still be due on the 1st of the following month. For example, the statement you receive in March would have a due date of April 1. The grace period for your monthly mortgage payment still lasts until the 16th of each month. If you have automatic payment set up, nothing is changing about your settings. All payment emails and letters will remain unchanged. Also, you can sign in to® anytime to view your most recent transactions and up-to-date history. If you need assistance logging in, you can speak with one of our client advocates at (800) 508-0944.

A Tour of Your Billing Statement

The goal of our billing statement is to make it easy for you to find the information you need and get on with your life. You can view a mockup of the statement, but let’s go over the features.

Loan Information

The first thing you’ll notice about the statement is a big box in the top right-hand corner, where you can get a quick peek at your most important payment details. This box includes your loan number and the property address as well as crucial information such as the statement date, the due date and the amount due.

A separate box underneath shows additional loan information, including the original loan amount and your interest rate, along with your principal balance. Knowing your original loan amount and current balance can help you see your advancement in paying off your mortgage.

Your escrow balance will also be included here. If you see a negative balance in this area, it means you have a shortage as a result of increased insurance premiums or the fact that your taxes went up along with your property value.

Payment History

Knowing your loan information is one thing, but let’s not lose track of the reason we like knowing that information. We want to know how close we are to paying the loan off. And if you know where you’ve been, it can also help you predict where your payment is going in the future. That’s where the payment history comes in.

The payment history section shows not only your last payment but also all the payments you’ve made in the last year. This will help you determine the overall funds you’ve put toward principal, interest, taxes and insurance.

On the second page, you can see all the activity that’s occurred with your loan since your last statement. This helps you to see how your payments are allocated every month.

For example, it would help you find out when taxes and insurance were paid using the money in your escrow account.

Current Payment Breakdown

We’ve all paid our bills and then wondered where all that money actually goes every month. If you take a look at your payment breakdown, you can see not only how much of your mortgage payment is going to the principal and interest but also what you pay on a monthly basis for mortgage insurance, homeowners insurance and property taxes.

This section also shows any escrow overage or shortage and any advances that may have been paid on your behalf.

Important Messages

If we have something we need to make sure you see, it’ll be in this section at the top of your statement. You might see a notification that your homeowners insurance is about to renew or a message about an opportunity to sign up for electronic payment options.

That’s the skinny on our billing statement. If you have any additional questions, please let us know below, and we’ll get you the answers.

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This Post Has 206 Comments

  1. If someone pays a mortgage payment on the 28th of each month along with the late fee…. does this hurt their credit standing with QUICKEN?
    They Never go beyond 30 days.
    This is done sometimes to assist in finances

    Thank you….

    1. Hi Anthony:

      If you don’t go 30 days late, it doesn’t hit your credit report, so there’s no impact on your mortgage qualification. The only thing that might happen is that you would possibly be charged a late fee by whoever you make the payment to. Hope this helps!

  2. Hi,
    So I got a bill “due date: 12/01/2018” and mailed in my payment Nov. 9th.
    This was received and acknowledged by you.
    Then I got another bill for same due date.
    Are some of us getting two bills for the same due date?
    Can I safely ignore the second one?

    1. Good morning, Lehua:

      If the first bill was mailed and acknowledged by us, you should be safe to ignore the second bill if they had the same due date. However, I’m going to get this to our Client Relations team just to make sure everything is OK with your account and you get the right information. Thanks for reaching out! Have a good day!

  3. I really do not like the new billing statement format and do not understand how this is beneficial. My current statement basically shows that we owe for 2 month’s mortgage because the cut off date is the before our monthly payment is auto withdrawn from our
    This is silly and confusing and I do not see any benefit to payers like ourselves whose
    mortgage is withdrawn after the 8th of the month. Ridiculous.
    Also, someone keeps calling us from your office and YOU NEED TO STOP. We are not interested in a refi, or equity loan. Please take us off your contact list as it’s so annoying and not appropriate. If I need you I know where to call.

    1. Hi Kathie:

      We respect and understand your feedback on the new statement send dates. I do want to make sure that we take care of getting you opted out of further phone calls. Unfortunately, I can’t find a new existing lead associated with your email address. I’m going to share this with our Client Relations team, but if you send an email to with the phone number at which you’re receiving the calls, we can absolutely take care of getting you opted out. I apologize for the inconvenience.

  4. I really liked the last billing and payment information you had before showing everything. I liked you showing the aprox. property worth and all the info on that page. I hope that does not change.

    1. Hi Mary:

      I’m happy to report nothing about the content or layout of the statement or website is changing at this time. Thanks!

    1. Hola Christina:

      Entendemos su preocupación: Puede estar segura de que su pago mensual no se ha duplicado. Nosotros cambiamos la fecha de cuando enviamos los estados de cuenta. Por este motivo, algunas personas que hacen sus pagos dentro de los 16 días de gracia, están viendo un balance de pago duplicado en su estado de cuenta. Si regularmente hace sus pagos dentro de este periodo, puede ignorar este monto y seguir haciendo sus pagos normales. Yo voy a compartir esta preocupación con mi equipo de Relaciones al Cliente. ¡Gracias por comunicarse con nosotros!

  5. Not at all happy with new statement policy I do love Quicken. Best customer service and the most polite and caring employees ever.

    1. Hi Carol:

      I want to assure you that interest isn’t a motivator. You still have multiple ways of paying several payments ahead if you want to. If you pay online through your Rocket Account, you can always make a payment a few days after your initial monthly payment is due. If you make your full monthly payment and don’t specify that it should go to principal, it’s automatically applied to the next month’s payment. If you wanted it all to go to principal, you can check the box.

      If you prefer to make your payments by mail, you don’t need a coupon. We ask you to give us a call at (800) 508-0944. That way we can set up your account preferences correctly. From then on, you can just send a check with your loan number in the memo line to:

      Quicken Loans
      P.O. Box 6577
      Carol Stream, IL 60197

      Hope this helps! Happy Thanksgiving!

  6. Very disappointed in your new statements. I liked getting my statement as soon as I paid one payment. I could pay several payments ahead that way and end my mortgage sooner. I think this is just a way for you to get more interest since we only get one statement a month. I know you can pay more on the principle each month but I liked paying extra payments.

  7. my wife and myself are on a fix income we get our money on the third of each month that can fall on the 15th or up to the 21 we always pay our mortgage each month but the pass due fees are hurting us we can not afford to double up payment can you help us

    1. Hi Dana:

      We changed when we mail statements. The new statement goes from the sixth of the previous month to the sixth of the following month. (E.g. October 6-November 6) Because you have until the 16th to make your November payment without incurring a late fee, some people will see the balance due double depending on when they normally make the payments. If you always make your payment sometime within the grace period, you can safely ignore it. Just make your November payment for the usual amount whenever you make it and do the same with your December payment.

    2. Dear Quicken Managers,
      I agree with Dana. We are disappointed with the current statement which shows doubled payment as we already made previous month payment. Please leave the payment due amount BLANK in the coupon. We will fill all entries when we send the payment. So we do not need to strike and replace with correct amount. Thanks for letting us know about the change in statement.

      1. Hi Sree:

        I’m going to pass this along to our Client Relations team so we can make sure someone sees your feedback. We are required to put certain payment amounts in our statements, but I do understand where you’re coming from. Have a good day!

  8. I have to say this new statement period is mid confusing. Regular working people like myself find the grace period very nice and reassuring that I can pay my largest bill of the month, my mortgage. I always only received one statement a month , I’d like to see statements go back as before.

    1. Hi Melinda:

      We absolutely understand your feedback. I do want to reiterate that although the timing of your statement is changing, your grace period isn’t you still have until the 16th of the following month to pay your bill.

  9. I just nearly had a heart attack when I opened my bill and saw a pass due amount. I do not pay my bill until the 8th of the month and we have until the 16th. I agree with Randy Trotter and I would like not to get a bill until after the 16th of the month. It is only common sense

    1. Hi Andrea:

      We apologize for any momentary distress this caused. We certainly understand your feedback, and I’m going to pass it along. I do want to reiterate that the statement you get has a due date that’s the first of the following month and nothing changes about your grace period. You just might see some different things on your statement depending on when you make your payment. Thanks for your feedback!

  10. I am quite disappointed that now that Quicken Loans is now partnered with ROCKET Mortgage that the amount of services has declined.

    I wanted to keep my Payment the same every month and in previous years, I made a one time payment to ensure that I could do that. Last year, I was told to add extra money to my ESCROW ACCOUNT to have the money in my account so that when the new year started for me (NOVEMBER). That the money would be in the account. I have done what was requested and now I am being told I am getting a check for the Overage in my Escrow Account and then my monthly payment will go up nearly $50 a month.

    The Service previously allowed me to keep my payments close to the same amount and now this was determined by ROCKET/QL that you can no longer do it. SAD DAY, sorry that Customer Service has now taken a back seat when it appears to be an easy fix but you are choosing NOT to do it….

    1. Hi Todd:

      Rocket Mortgage is a service of Quicken Loans. That said, regardless of what we call our services, we strive to provide a high level of client service at all times. While there are certain procedures we follow with escrow accounts, I’m going to get this to our Client Relations team to look into your experience and also look into any options you may have to accomplish your goal with your payment. Thanks for reaching out, and someone will be in touch.

    1. Hi Marilyn:

      No, we wouldn’t do that to you. The statement will come between the 8th and the 12th but it’s not due until the 1st of the following month. The grace period would remain the same. Thanks for reaching out!

    1. Yes you can. Nothing is changing about your personal billing preferences. The only thing that’s changed is the day on which your statements are sent.

    1. Hi Donald:

      It depends on what you mean by bimonthly. You have to make at least one full mortgage payment per month. However, we do offer what we call biweekly payments. When you set up biweekly payments, you pick a date between the 1st and 14th of the month to make the first half of your monthly payment. This is then put into a non-interest-bearing escrow account and the second half of your monthly payment is taken out two weeks after the first half and applied to your loan in accordance with the rules of the major mortgage investors like Fannie Mae, Freddie Mac, FHA, etc. From then on, you make half a mortgage payment every two weeks. Because there are 52 weeks in a year, you make the equivalent of 13 monthly payments as opposed to 12. This extra monthly payment, if you choose to make it, is applied directly to your principal, meaning that over time you save on interest in addition to paying off your loan faster.

      There’s more information in this blog post. If you would like to get set up, you can do so through your Rocket Account or give our servicing team a call at (800) 508-0944 and someone will be happy to help you. Have a great day!

  11. Since our payments are not overdue until the 16th why not make the monthly statement email on the 15th instead of the 8th. That way it could double as a reminder.

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