FAQs

What is an escrow account?

Simply put, an escrow account is a holding account that allows homeowners to pay their annual property tax bill and homeowners insurance in installments as part of their regular monthly mortgage payment.

Supplemental tax bills are generally not paid from the escrow account. Supplemental tax bills must be paid directly by the borrower to the taxing authority.

NOTE: With certain loan products, an escrow account is required.