A home purchase is likely one of the largest and most important investments you’ll make, and the appraisal process is an essential part of obtaining a mortgage. We have insight to help you through the process and answer your questions, including what to expect during the process:
If you have questions or concerns regarding your appraisal report, please visit with your mortgage lender.
Here are a few important things to know about home appraisals:
Our mortgage lending team members are available to answer any questions you have on the appraisal or general homebuying process. We look forward to working with you and providing guidance.
Great question! It’s an account used to pay for items related to your property, such as taxes and insurance, and is a calculated portion of your monthly mortgage payment.
Great news! There is no fee. Mortgage escrow accounts are maintained free of charge.
Your mortgage escrow payment is composed of three portions:
We’re happy to help provide some clarity here! Some mortgage loans are required to have an escrow account, including the tax and/or insurance payments. Please contact us to discuss your options.
In general, any of the below conditions require you to have a mortgage escrow account: