Thanks and Good Luck!
Mortgage Loan Officer
Kathryn Lilly, Broker
Realty on the Greene, LLC
Depending on the type of mortgage you take, some banks may require that you make monthly payments towards an escrow account to pay for homeowner's insurance and real estate taxes. You need to ask the bank who holds your mortgage or will hold your mortgage if they require it.
Some people prefer to do the escrow regardless because they pay smaller amounts over time rather that a large lump sum all at once. If I can be of further assistance, please contact me direct. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783