How Is My Escrow Payment Calculated?

A very good Thursday morning to you. It is one day away from a very long weekend. I know you guys are happy. We thank you for visiting us today. Let's get right to it. Today we are touching on how your escrow payment is calculated.

Your escrow payment is calculated each year, based on the amount of your current year's property tax and property insurance amount, divided by 12. For example, if your current property tax bill is $12,000 and your home insurance is $2,500, your required monthly escrow payment would be about $1,208.3 Here is the how: $12,000 + $2,500 = $14,500/12 = $1208.3

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