I'm planning to buy a new home. Will be taking out a home loan for the purpose. Can an escrow be arranged to pay for the home insurance premiums? I'm not sure about how this works.
Total Comments: 2
Posted: Mon Nov 12, 2012 02:28 pm Post Subject:
That is exactly what happens. The broke determines the total expenses of owning the home including taxes and insurance and works them into the loan amount. Part of that amount is held in escrow so that your mortgage company can pay expenses.
Posted: Wed Nov 14, 2012 04:13 pm Post Subject: Can escrow pay for home insurance
Consult a financial planner, if you are so confused about the ways to finance your home purchase, tax and insurance costs.
Posted: Mon Nov 12, 2012 02:28 pm Post Subject:
That is exactly what happens. The broke determines the total expenses of owning the home including taxes and insurance and works them into the loan amount. Part of that amount is held in escrow so that your mortgage company can pay expenses.
Posted: Wed Nov 14, 2012 04:13 pm Post Subject: Can escrow pay for home insurance
Consult a financial planner, if you are so confused about the ways to finance your home purchase, tax and insurance costs.
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