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 inc...

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.

On your Escrow Review Statement, you’ll see a month-by-month projection of your upcoming escrow deposits, the timing and amounts of upcoming disbursements we expect to make on your behalf, and the running balance of the escrow account.

This shows a breakdown of your payment, including the amounts applied toward principal, interest, and escrow. If there are optional items, late payments or other fees, they will be shown here as well.

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.

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.

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.

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.

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.