An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month.

We’ll send you an Escrow Review Statement that explains the results of the escrow analysis. Your statement will inform you whether your monthly payment is going up or going down in the year ahead, based on this year’s tax and insurance payments.

An escrow—or impound—account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month. Then we use the money to make your prope...

First, let’s understand what an escrow account is and why it can be helpful. Basically, having an escrow account is all about convenience. It means that you never have to worry about when property tax and insurance bills are due, because we make the payments for you.

The minimum required balance is the lowest positive balance allowed in your escrow account at any given time—this positive balance is also known as a cushion requirement. This helps us minimize the impact to your monthly mortgage payment when property tax and insurance rates in...

Many taxing authorities allow grace periods for payments. Grace periods are stretches of time after a due date, but before the delinquency date, when you can still get your payment in without penalty. The delinquency date is the last date that taxes can be paid before there is ...

Here are common types of homeowners insurance and general guidelines about which coverage you should maintain: Remember, this is just an overview. That means you shouldn’t assume any of these do or don’t apply to you based on this list alone. A chat with your insurance carrier is the...

Approval documentation must then be submitted to us for updates to be made to your escrow account. There are 2 common types of exemption: Partial Exemption means you qualify to have a reduction in the taxable value of the property, thus lowering the overall tax amount.

If you opened an escrow account as part of your loan agreement—or chose to open one to simplify your life—we will take care of your tax and insurance payments for you. View and manage your escrow account online by signing in to your account.

Learn how to remove your escrow account and pay your own property taxes and insurance bills. Find out the benefits, drawbacks, requirements and guidelines for escrow removal and how to request it.