What is an escrow analysis?

An escrow analysis, performed annually, ensures that the sum of your monthly escrow payments is sufficient to cover all items that are to be paid from your escrow account such as real estate taxes and home insurance. The analysis shows if your escrow account has funds left over or is short of funds after all disbursements are made. If taxes or insurance rates have risen during the year, your monthly escrow amount will rise as well. If they have dropped, your escrow payment may decrease.

Because escrow analysis usually is done in February, any escrow payment changes likely would take effect with your April payment.

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FAQs

Where can I find a listing of your Mortgage Loan Originators?

Contact a Mortgage Loan Officer

Apply for your mortgage loan.

What is the maximum mortgage amount I can apply for?

What is an escrow analysis?

FAQs

Do you have first-time homebuyer programs?

When will I receive a refund of my escrow overage?

What happens after I apply for a mortgage?

What’s the best term for a mortgage?

What kinds of mortgages does North Shore Bank offer?

Can you send a 10-day loan payoff quote to my bank or credit union?

Can I pay my own real estate taxes and homeowners insurance if my mortgage is through North Shore Bank?

When is my mortgage payment posted to my account?

Which Mortgage Loan is the Best: Adjustable or Fixed Rate?

What is a Mortgage Note?

Can I be notified when mortgage/refinance rates change?

How much will it cost me to refinance my first mortgage?

Why get a home equity line of credit with my mortgage?

What is a mortgage loan?

Do I need to send you a copy of my property tax bill for my mortgage?

Do I need to provide you with proof of my Homeowners Insurance?

Can I refinance my current mortgage?

Can I cancel or waive my escrow account?

Are there other products at North Shore Bank that can enhance my mortgage?

I received a check from my insurer covering the loss to my property, and it is payable to both the bank and me. What do I need to do next?

How can I get the best mortgage rate?

Why get pre-approved before shopping for a home?

How can I improve my chances of getting a mortgage?

Is it better to pay points for a lower rate?

What documents do I need to close on a mortgage?

Are there tips I can use for faster closing?

How are my property taxes paid?

Can I change insurance companies for my homeowner's policy? Do I need to notify you?

I had a fire loss (or other damage) to my property. What should I do?

What are my closing costs for my mortgage?

Do you offer VA or FHA loans?

Can I roll my closing cost fees into my loan?

What is an escrow account?

What is Freddie Mac?

What is the Truth-In-Lending Act?

What happens if I send in a mortgage payment that is less than the full monthly payment due?

What is an escrow analysis?

How is an escrow shortage collected?