How Does An Escrow Account Work? - Escrow.com
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Escrow is simply how your mortgage payment plans ahead. A portion of your monthly payment is set aside to cover property taxes and homeowners insurance. For example: If your total payment is $2,500, about 25–30% (roughly $625–$750 per month) goes into this “piggy bank” for taxes and insurance. When those costs go up, your escrow portion can go up too. It’s not extra money — it’s planned money. #loanofficer #loans #mortgage #realestate #escrow | Erick Silva
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