Month: October 2023

how long should you keep mortgage statements

How Long Should You Keep Mortgage Statements?

Are you tired of papers piling up and file cabinets overflowing? If you’re looking to minimize your accumulating paperwork, you’re probably wondering, “How long should you keep mortgage statements?”

As some of the best mortgage lenders in Tucson, Arizona, Altitude Home Loans wants our borrowers to lead financially secure lives. Keep reading to discover when we advise getting rid of your mortgage statements, and to learn more, call 520-500-1010

Types of Mortgage Statements

You likely have many of the following types of mortgage statements.

Monthly Statements

Your monthly statements are the least important document to keep, as your lender has copies as well. However, you should keep them for about three years — longer if you notice a mistake in one of them. While you can access your copies online, it’s always good to keep physical copies in a safe location.

Closing and Seller Disclosures

Keep these documents for at least a year after closing. The closing documents discuss the fees you paid, and in some cases, you can use them for tax deductions, which requires you to have the document in your possession. 

The seller document reveals any problems with the home the sellers are aware of before closing. Keep this until you’re confident no existing problems will manifest in your home.


The government recommends you keep a physical copy of your deed for as long as you own your home. However, one exception is if you’ve paid off your mortgage and officials record your ownership in land records. Then, you can get rid of your deed’s physical copy.

Promissory Note

This document outlines your obligation to pay back your mortgage to your lender. Keep it for as long as you own the property or until you pay off your mortgage. 

Purchase Contract

How long should you keep mortgage statements? Keep this document for two or three years in case you need to bring a case against the sellers. Along with the seller’s disclosure, it contains important information about the home’s condition.

Renovation Records

Keep all records of repairs and renovations as long as you own the home. You’ll need these documents if you sell your home to help calculate your capital gains tax.

Home Warranty

Keep your home warranty documents for as long as you have coverage, including if you renew the policy. The document is the quickest way to determine your policy covers and how to obtain help.

Home Inspection Report

Keep your inspection report for two or three years. The report acts as evidence concerning the state of your home and appliances. It can help remind you how long these items should last and when you should start saving for repairs or replacement.

Learn More By Contacting Altitude Home Loans

So, how long should you keep mortgage statements? It depends on the document, the condition of your house, and mortgage repayment terms. The team at Altitude Home Loans maintains an open-door policy and collaborative approach to lending. From your mortgage commitment letter through to your last payment, our process relies on integrity and compassionate service.

Call 520-500-1010 to learn more about home loans.


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