When establishing an escrow account, we do not include any of the following:
Special assessments or one-time property taxes (such as a supplemental tax that may be charged after the purchase of the property)
Water charges, sewer rents, and other similar charges
Insurance that does not cover the structure of the property, such as a Condominium Contents Policy
Earthquake insurance that is billed separately from your Hazard/Homeowner's Insurance
Homeowner's Association fees.
If you purchase additional insurance for life, disability, or other optional insurance, the premium is not part of an escrow account.
Contact your Loan Officer for further information.