Escrow accounts simplify homeownership by bundling property tax and insurance costs into your monthly mortgage payment. While convenient, the escrow portion of your payment may shift from time to time. Knowing the reasons behind these adjustments helps you plan ahead and better manage expenses.
Many homeowners have an escrow account associated with their mortgage, from which their lender pays homeowners insurance and property taxes when they come due. Escrow payments may increase or decrease due to several factors. If your escrow account is found to have extra money in it, you may be issued a refund.
If you’ve got a mortgage, you may have heard the term “escrow”—but what does it actually mean? In the world of home loans, escrow often plays a key role in managing important property-related expenses.
Review our glossary of terms in order to make educated decisions and ask the right questions!
If you’re considering buying a home, it’s important to understand what types of home loan options you have before you start shopping.
An assumable mortgage allows a buyer to assume the rate, repayment period, current principal balance and other terms of the seller’s existing mortgage rather than obtain a brand-new mortgage.
Dealing with damage to your home can be stressful, and the insurance loss claim process can be confusing. This article explains the loss process and the steps you’ll need to take to receive your repair funds.
It can be unsettling to receive notice that your mortgage loan will be serviced by a new company—but there’s no need to worry.
Paying off your mortgage is a big deal, and there’s more to it than just sending us your final payment. This article explains how you can pay off your mortgage loan in just five easy steps.
Buying a home is a major financial milestone, and for many, it’s the largest investment they’ll ever make. With a typical 30-year loan, you’re committing to 360 monthly payments. That’s why it’s essential to grasp what’s included in your payment and how it evolves over time.