New Construction Escrows Explained | Mortgage Mark
4:33
New Construction Escrows Explained | Mortgage Mark
11 months ago
mortgagemark.com
🏠 Mortgage escrows are accounts managed by lenders to cover your annual property taxes and insurance premiums. Every month, part of your mortgage payment gets added to the escrow account balance. When the annual property tax and insurance bills come due, the lender pays them on your behalf using the funds from that escrow account. It helps make sure these expenses are covered and prevents you from having to come up with large lump sums. 👋 Let me know what questions you have. #mortgagetips #hom
1:26
🏠 Mortgage escrows are accounts managed by lenders to cover your annual property taxes and insurance premiums. Every month, part of your mortgage payment gets added to the escrow account balance. When the annual property tax and insurance bills come due, the lender pays them on your behalf using the funds from that escrow account. It helps make sure these expenses are covered and prevents you from having to come up with large lump sums. 👋 Let me know what questions you have. #mortgagetips #hom
928 viewsMay 2, 2024
FacebookChadd Johnson
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