What is a Mortgage Escrow Account?
Posted On: March 7, 2023 by Home State Bank in: Home Mortgage
You’ve likely heard of an escrow account, especially if you have a home mortgage. But if you don’t have a home mortgage, or you don’t quite fully understand your current escrow, we’ve put together the following to help you better understand the ins and outs of it.
What is a mortgage escrow account?
When you own a home, you're responsible for additional home-related expenses like property taxes and insurance. Escrow accounts help you plan...
Who’s Who in the Mortgage Process (Part 1)
Posted On: November 22, 2022 by Home State Bank in: Home Mortgage
Want to buy a home, but have no idea Who’s Who in the Mortgage Process? Don’t fret. A lot of people are in the same boat as you!
Let’s start with the basics.
Houses are expensive and unless you have an abundance of cash, you’re going to need a bank and a Mortgage Loan Officer. Sometimes referred to as the acronym MLO, a mortgage loan officer represents the bank and their loan programs. You’ll talk with them and share enough information...
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