What items are included in an escrow account?
• When establishing an escrow account, we can usually include any or all of the following: Regular Property Taxes, Liens and Assessments Hazard/Homeowner’s Insurance Flood Insurance Regular Property Taxes, Liens and Assessments Hazard/Homeowner’s Insurance Windstorm, Hail or Hurricane Insurance Private Mortgage Insurance (PMI) However, we do not escrow for the following: Special assessments or one-time property taxes, such as a supplemental tax that may be charged after the purchase of the property Water charges, sewer rents, and other similar charges Insurance that does not cover the structure of the property, such as a Condominium Contents Policy Earthquake insurance that is billed separately from your Hazard/Homeowner’s Insurance Homeowners Association fees If you purchase additional insurance for life, disability, or other optional insurance, the premium is not part of an escrow account.
