What is Escrow?
An escrow is any arrangement where two parties agree to have a third party receive, hold and disburse funds and execute mutually agreed-upon instructions. In the context of buying your home, you’ll encounter two escrows. One begins when your offer is accepted by the seller and ends when you close. The other begins when you close and ends when you pay off your mortgage.
In addition to our glossary, we have a library of downloadable PDFs that cover closing costs, escrow, and other mortgage fundamentals.
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