Do I need an Escrow Account?

A very good day to you. The sky is dressed in gray right now, with the threat of rain. But, that's OK, because along with the sun, there has to be a little rain sometimes. Let's take a look at the question of do you need an escrow account.

Yes, you do. If your mortgage loan is an FHA, VA or a conventional loan with less than 20% down payment, an escrow account will be required without exception. This account is used to manage the necessary funds, that is used to pay your property taxes and home owners insurance. Questions and or concerns regarding your escrow account should be addressed with your mortgage company.

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please give us a call 713.204.8013 or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana