What is an escrow account?

As a homeowner, you pay property tax to your local government and buy property insurance to protect your home. Habitat for Humanity of Pinellas County makes paying for both easy by rolling these amounts into your monthly mortgage loan payment. An escrow account holds these funds until it’s time to pay your property tax bill or your property insurance premium, which we do on your behalf. At least once every year, Habitat for Humanity of Pinellas County performs an escrow analysis on your accounts.