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What is a Mortgage Escrow Account?

Posted On: March 7, 2023 by Home State Bank in: Home Mortgage

You’ve likely heard of an escrow account, especially if you have a home mortgage. But if you don’t have a home mortgage, or you don’t quite fully understand your current escrow, we’ve put together the following to help you better understand the ins and outs of it.

What is a mortgage escrow account?

When you own a home, you're responsible for additional home-related expenses like property taxes and insurance. Escrow accounts help you plan...

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Tags: escrow, escrow account, home mortgage, mortgage escrow