What is an escrow account? (explained in 40 seconds)
Автор: JJWilferth
Загружено: 2025-10-17
Просмотров: 586
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Ever look at your total mortgage payment and wonder where all the money goes? 🤔 It’s not just one thing! Your payment is typically made up of P.I.T.I.
➡️ Principal & Interest: This is the part that pays off your loan balance.
➡️ Taxes & Insurance: This is the part that goes into your Escrow Account.
Think of escrow as a managed savings account 🐖 for your two biggest yearly expenses: Property Taxes & Homeowners Insurance. A small piece of your monthly payment goes in, and we pay the big bills for you when they’re due. It turns two giant, stressful payments into small, manageable ones. ✅
Understanding escrow is a key part of the homebuying journey. My Ultimate Homebuyer Checklist breaks down every piece of your payment. Grab it for free at the link in my bio! 🔗
#FAQFriday #Escrow #MortgageExplained #FirstTimeHomeBuyer #HomeownerTips #NoDramaLender
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