|
|
| Escrow Tips |
Remember that you might be paying an additional escrow (this an extra payment that builds and helps you pay for your local taxes and could pay for your home insurance).
It's good to have at first, because it is treated like a 0% loan for the 1st couple of years until you pay them off through your escrow. Once paid off, then your escrow is treated like an advance payment to the bank to help pay for future tax and insurance expenses.
If you are good with your finances, then it is good to cancel your Escrow payment after about 2.5 years and pay your taxes and insurance yourself. This will allow you to have cash in your hands longer and have a lower monthly payment.
|
|
|
|
Bookmark US!
Add us to your Favorites!
Links:
Pay it off sooner
Lower your payment
How Mortgage works
Mortgage Calculators
Save hundreds on your mortgage
|