Skip To Content

Escrow Accounts in a Nutshell

I’m going over what an escrow account is and why it’s important.

An escrow account is something that the banks often require you to use when you have a mortgage on a property. This type of account is insurance for the bank to make sure you are and will be able to pay your obligations and that you’ll have the money saved for taxes and insurance.

When that escrow account gets set up with the bank, principal, interest, taxes, and insurance automatically go into your escrow account so that you can make your payments. In Iowa, your taxes are due in September and March. Your insurance is usually due one year after you bought the property and every year recurring after that.

If you have any questions, feel free to reach out to me. I’d love to hear from you.

Trackback from your site.

Leave a Reply



Selling a home is stressful under the best of circumstances, but selling a home while relocating a thousand miles away in the midst of a global pandemic could be a receipe for headaches and heartburn. I am so thankful that I listed my home with Brandy Underberg because she made the whole process virtually effortless. Superb advice on listing price, staging and once the offer came in, she handled all of the details in a top notch professional manner. If you are looking for a realtor who knocks it…
Jane Schliesman