What is an Annual Escrow Analysis?

Once a year, we review your Escrow Account to determine whether sufficient enough funds have been collected to cover payments of taxes and/or homeowners insurance for the current year and if we are collecting enough to cover the upcoming payment of property taxes and/or homeowner’s insurance. This Annual Escrow Analysis will determine whether your account has a shortage or an overage.

The annual Escrow Analysis Statement is mailed out the last week of August each year. If your monthly mortgage payment changes due to increases or decreases in your taxes and/or homeowners insurance, your new mortgage payment amount will be due beginning with your October payment of that year.  

If you have opted to receive eStatements, your Escrow Analysis Statement will also be available through Citadel Online & Mobile Banking.