Mortgage Glossary
Initial Escrow Deposit
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
The initial escrow deposit is the upfront amount collected at closing to fund your escrow account for taxes and insurance.
What Initial Escrow Deposit means
Lenders collect a few months' cushion plus any bills due soon, so the account can pay the first tax and insurance installments. It's part of closing costs.
Florida example
A Florida buyer pays an initial escrow deposit covering several months of taxes and the first insurance premium, ensuring the servicer has funds ready when the county tax bill arrives.
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