The Escrow Account helps you manage large expenses like property taxes and insurance premiums so you don’t have to save for them separately. You can make 1 combined mortgage and escrow payment each month and we deposit a portion into your escrow account.
Escrow greatly simplifies the home buying experience: without it, you'd be held responsible for sending timely and accurate payments to each and every party involved in the transaction.
Escrow accounts are established for payment of property taxes or insurance. When your property tax and insurance bills are due, we pay them on your behalf.