Escrow Account Calculator
Calculate monthly escrow payments for property taxes, insurance, and other annual costs. Plan your complete housing budget.
How it works
Monthly escrow payment = (Annual Property Taxes + Annual Insurance + Other Annual Costs) ÷ 12. Lenders typically add a 1-2 month cushion for payment fluctuations.
Example
$6,000 taxes + $1,200 insurance + $600 PMI = $7,800 ÷ 12 = $650/month (plus cushion).
FAQ
What is an escrow account for mortgages?
An escrow account is a separate account held by your mortgage servicer to collect and pay property taxes, homeowners insurance, and sometimes PMI on your behalf.
How much is collected for escrow each month?
Typically 1/12 of your annual property taxes, insurance premiums, and other annual costs, plus a cushion of up to 2 months of payments.
Can I waive escrow requirements?
With 20% or more equity and good payment history, you may be able to waive escrow, but you'll need to pay taxes and insurance directly when due.
What happens if my taxes or insurance increase?
Your lender will perform an annual escrow analysis and adjust your monthly payment up or down. You may owe a shortage or receive a refund.
Do I earn interest on escrow account funds?
In most states, escrow accounts do not earn interest, though a few states require modest interest payments on escrow balances.