How to Find My Escrow Account and What It Covers

These accounts manage property taxes and homeowners insurance, ensuring payments are made on time without requiring direct action from the homeowner. If you’re unsure where to find details about your escrow account, there are several ways to locate this information and verify its contents.

Checking Mortgage Statements

Your monthly mortgage statement is one of the easiest ways to find escrow account details. Lenders typically include a breakdown of your total payment, showing how much goes toward principal, interest, and escrow. The escrow portion covers property taxes and homeowners insurance, and the statement should indicate the exact amount allocated each month.

Some statements also provide a running escrow balance, helping you track whether enough funds are being collected to cover upcoming expenses. If your escrow balance is too low, your lender may increase your monthly payment. If there’s a surplus, you might receive a refund or a temporary reduction in payments.

Statements can also show adjustments due to tax reassessments or insurance premium changes. If property taxes increase, your lender will adjust your escrow contributions accordingly. Reviewing these changes can help you anticipate fluctuations in your mortgage payment.

Annual Escrow Account Statement

Each year, mortgage servicers must provide homeowners with an annual escrow account statement, which reviews the account’s activity over the past 12 months. This document details total funds collected, payments made on your behalf, and any adjustments affecting future contributions. It also projects anticipated expenses for the coming year.

A key part of this statement is the escrow analysis, which compares expected and actual costs of property-related expenses. If there’s a shortfall—meaning the collected amount wasn’t enough to cover taxes or insurance—the lender will outline how to address the deficiency, usually by increasing your monthly escrow payment or offering a lump sum payment option. If there’s a surplus, the lender may issue a refund, provided the excess meets the federal minimum threshold, such as the $50 limit under the Real Estate Settlement Procedures Act (RESPA).

Unexpected changes in escrow balances often result from tax reassessments or insurance premium increases. If local tax authorities raise property valuations, your tax bill will increase, requiring a larger escrow contribution. Similarly, if your insurer raises premiums, your escrow account must absorb the difference. Reviewing the annual statement allows you to anticipate these changes rather than being caught off guard by payment adjustments.

Using Online Mortgage Portals

Most mortgage lenders provide online portals where borrowers can access loan details, including escrow account information. These platforms allow homeowners to track payments, review disbursements, and monitor escrow balance adjustments. Logging in typically reveals a dashboard displaying recent transactions and upcoming scheduled payments.

Some lenders offer escrow calculators that estimate how payment adjustments could affect monthly obligations based on projected increases in property taxes or insurance premiums. Others allow users to set up alerts when disbursements are made, ensuring homeowners are notified when funds are applied toward taxes or insurance.

Lenders may also provide downloadable reports detailing escrow activity. These reports can be useful for tax filing, as they often list total property tax payments made throughout the year. Some platforms even link directly to tax authorities or insurance providers, allowing homeowners to verify payments were received and applied correctly. If discrepancies arise, having immediate access to these records can help resolve issues with the lender or third-party entities.

Reviewing Your Closing Documents

The escrow account’s structure and obligations are established at closing, making loan documents from that stage a valuable resource. The Closing Disclosure, a federally required form under the Truth in Lending Act (TILA), outlines the initial escrow deposit, detailing how much was collected upfront to cover future tax and insurance payments. This document also specifies whether escrow is mandatory or optional, as some loan programs, such as those backed by the FHA or VA, require escrow accounts.

Another important document is the Escrow Account Agreement, which defines the responsibilities of both the borrower and lender. This agreement details how shortages or surpluses will be handled, whether the lender can adjust the escrow portion of the monthly payment, and any stipulations regarding escrow waivers. In some cases, borrowers may request an escrow waiver to manage tax and insurance payments independently, but lenders often require a higher down payment or charge a fee to mitigate risk.

Contacting Your Mortgage Servicer

If online access and past statements don’t provide the information you need, reaching out to your mortgage servicer directly is the most direct way to clarify escrow account details. Servicers manage the account, ensure timely disbursements, and adjust contributions based on changing tax or insurance costs. Their customer service teams can provide a full escrow breakdown, explain discrepancies, and address concerns about payment adjustments.

When contacting your servicer, have your loan number and recent mortgage statements on hand to streamline the process. Many servicers offer multiple communication channels, including phone support, secure messaging through online portals, and in-person assistance at branch locations. If you suspect an error—such as a missed tax payment or an incorrect insurance charge—request a transaction history to verify all disbursements. If necessary, servicers can also initiate escrow account reviews to reassess whether your monthly contributions align with projected expenses.