Escrow

Homebuyer’s Guide to Pre-Paid Costs

September 4, 2024 Tawnya King Home Building Tips Comments Off

Buying a home is an exciting adventure, but it’s crucial to understand all the financial aspects involved to make the process smoother. Beyond your down payment and closing costs, there are several pre-paid costs that you’ll need to address at closing. These pre-paid costs are essential to consider as you plan your home purchase. Here’s a comprehensive guide to help you understand these costs and prepare effectively.

Escrow Analysis: Your Key to Understanding Mortgage Payments

May 17, 2024 Tawnya King Escrow Tips Comments Off

Escrow might sound like a fancy term, but it’s not rocket science. Let’s break it down into simple terms. In simple terms, an escrow analysis is a review of your escrow account conducted by your mortgage lender.

A Comprehensive Guide to Explaining Escrow Accounts

February 14, 2024 Tawnya King Homebuyer Tips Comments Off

Whether you’re a first-time homebuyer or a seasoned homeowner considering a refinance, the term “escrow account” often looms as a source of confusion. Yet, understanding the ins and outs of escrow accounts is crucial for managing your homeownership responsibilities effectively. In this article, we’ll address some common questions and concerns regarding escrow accounts to shed light on their importance and functionality.

The Role of Mortgage Escrow Accounts in Property Tax and Insurance Payments

January 3, 2024 Tawnya King Home Mortgage Tips Comments Off

A mortgage escrow account, also known simply as an escrow account, is a financial arrangement set up by a mortgage lender to manage and disburse certain payments related to the property on behalf of the homeowner. The purpose of an escrow account is to ensure that essential expenses, such as property taxes and homeowners’ insurance, are paid on time.

Ensuring A Stress-Less Closing

April 21, 2023 Tawnya King Mortgage Comments Off

Buying a home is an exciting and exhilarating time. Between the time your offer is accepted, and when you finally have keys in hand and you are ready to step into your new home, it can be stressful. The escrow period, also known as the closing, can take the most easygoing home buyer to the brink of insanity.

Escrow And Your Mortgage: The Most Important Points To Know

November 22, 2022 Tawnya King Mortgage Comments Off

There are a lot of complicated terms thrown around regarding your mortgage, and one of them is an escrow account. You will probably hear that your lender will collect some additional money every month for escrow payments. If you take a look at your mortgage statement, you will see your interest, your principal, and your escrow. What does this mean, and why do you have to pay additional money that isn’t going toward the balance of your loan?

All posts tagged: Escrow