Understanding Your Mortgage Escrow Account
MANAGE YOUR MORTGAGE
How it makes budgeting for property tax and insurance obligations easier.
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Basics of Escrow
Escrow Analysis
The Basics of Escrow
Monthly Mortgage Payment
Principal & Interest Payment
Applied to your loan. Does not change if you have a fixed-rate loan.
Escrow Payment
Portion of your payment set aside to pay annual tax and insurance obligations. Typically changes annually
Determined by dividing estimated annual tax and insurance obligations by the number of scheduled mortgage payments over the coming year.
Funds may be added to maintain the required minimum balance in your escrow account (typically 2 months escrow payments).
Annual Escrow Analysis
Ensures your escrow payment is sufficient to cover your tax and insurance obligations.
Compares escrow payments collected over the last 12 months to your actual tax and insurance expenses.
Typically identifies a shortage, to be paid back, or a surplus, which is refunded or credited to your account.

Questions about your insurance?
Call xxx-xxx-xxx
Questions about your taxes?
Call xxx-xxx-xxx
The Basics of Escrow
Monthly Mortgage Payment
Principal & Interest Payment
Applied to your loan. Does not change if you have a fixed-rate loan.
Escrow Payment
Portion of your payment set aside to pay annual tax and insurance obligations. Typically changes annually
Determined by dividing estimated annual tax and insurance obligations by the number of scheduled mortgage payments over the coming year.
Funds may be added to maintain the required minimum balance in your escrow account (typically 2 months escrow payments).
Annual Escrow Analysis
Ensures your escrow payment is sufficient to cover your tax and insurance obligations.
Compares escrow payments collected over the last 12 months to your actual tax and insurance expenses.
Typically identifies a shortage, to be paid back, or a surplus, which is refunded or credited to your account.
Questions about your insurance?
Call 1-888-882-1847
Questions about your taxes?
Call 1-866-406-0949