How Does An Escrow Account Work? - Escrow.com
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Pro tip for first time buyers: your first mortgage payment is not due immediately. Your initial mortgage payment is due on the first day of the second month after you close escrow, giving you extra time before payments begin. During this time, you are not making a full mortgage payment or funding interest through Escrow, which can result in significant short term savings. For many buyers, this can mean keeping approximately $2500 in your pocket, depending on the loan amount and rate. Understandi
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