In simple terms, an escrow amount is money that is set aside for a specific purpose and is held by a neutral third party until certain conditions are met. It provides security for both parties involved in a transaction.
Sentences with «escrow amount»
Items that appear on the statement include real estate commissions, loan fees, points, and initial escrow amounts. (illinoismortgagebroker.com)
If your property taxes or homeowners insurance premiums increase, you're likely to see your monthly escrow amounts increase, too. (veteransunited.com)
From the loan standpoint, delays occur when the bank requires some type of loan condition, such as additional credit references, additional paperwork to show income, or a higher escrow amount. (realtor.com)