Getting started with escrow

If you have an escrow account:

Every month when you make a mortgage payment, we put a portion of it into an escrow account to pay your tax and insurance bills for you. However, Truist can’t control how much you will be charged. These amounts may vary annually—making it difficult to perfectly predict escrow.

When your tax and insurance bills go up, it can cause a shortage in your escrow account. On the other hand, if your taxes and insurance go down, you may end up with a surplus—resulting in a credit or a refund.

We review your escrow account at least once a year to check that we are collecting enough from your monthly payments to cover your tax and insurance bills when they come due. Following our review, we issue an escrow account disclosure statement

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Feeling informed and in control of your finances is key to staying confident. That’s why we’d like to explain the details of your escrow account.

Each month, we put a portion of your total mortgage payment into an escrow account to cover your tax and insurance bills. And when those bills are due, that’s what we use to pay them.

But we don’t control how much tax and insurance you’re charged annually—that’s up to your local tax office and your insurance company. So those amounts may vary from year to year.

At least once a year, we review your escrow account to make sure we’re collecting enough to cover your tax and insurance bills.

Sometimes, these bills will be higher than the current balance in your escrow account. This causes a “shortage.” To make sure there are no unpaid bills, we pay the full amount due and charge you the difference.

If your taxes or insurance premium go down, you may end up with a surplus. In that case, you’ll receive a credit or a refund.

You can find all the details about your escrow account in your annual escrow statement.

First, we review the amount of your shortage or surplus. In this sample statement, there’s a shortage.

Next, we determine your new monthly escrow amount, which is based on your most recent tax and insurance bills.

Lastly, you’ll see the effective date and amount of your new total monthly mortgage payment.

In this example, a shortage is one reason for a higher monthly payment. Your monthly escrow amounts can also change based on your current tax and insurance bills, and the shortage payment will be spread over the next 12 months.

There’s also the option to pay a shortage upfront. Check out the FAQ page attached to your statement if you’re interested in that option.

We’ll also email you an escrow snapshot after preparing your escrow statement—we hope you find it helpful.

Understanding what’s changed and why are the first steps to helping you stay in control. We’re here for you.

Want more information about your escrow account? Visit or call us at 800-634-7928.

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If you did not opt to have an escrow account:

You are responsible for paying all real estate taxes and insurance bills, and showing Truist that you did. Keep your receipts, include your 10-digit loan number, and send them to:

Real estate taxes:

Tax Department, Truist – 0011883
P.O. Box 92370
Rochester, NY 14692

Attn: Tax Department, Truist – 0011883

Upload to:

Homeowners insurance:

Truist Bank
P.O. Box 7952
Springfield, OH 45501

Frequently asked questions about escrow

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We analyze your escrow account once a year. Sometimes an additional analysis is required due to changes to your escrowed items (i.e., changes in insurance or taxes), or terms of your loan (i.e., a loan modification). You can also request an analysis if you want your payments adjusted after a change in your insurance or taxes.

There are many factors that determine whether your escrow can be waived. Please contact Client Services at 800-634-7928 to determine if you are eligible to have your escrow waived.

Our policy is to mail annual escrow statements. We’ll let you know once we’re able to go paperless for escrow statements as well.

You may access your escrow statements online or via the mobile app. If you need escrow statements that are older, please call us to request copies.

Questions about real estate tax increases, your assessed value, and tax rates can best be answered by directly contacting your local real estate taxing authority. Your insurance company can answer questions about your insurance premium.

Increases or decreases typically occur when a change occurs in your real estate taxes or your homeowners insurance policies. These specific cases may be impacted by their own circumstances.

Hazard insurance: Your premium may be different as a result of changes to the type or extent of your insurance coverage, or if your insurance company changed your insurance rate. We encourage you to contact your insurance company or local insurance agent for any questions regarding changes to your hazard insurance premiums.

Real estate taxes: Your real estate taxes may be different as a result of your property being reassessed or if the tax rate has changed. Unexpected tax bills for special assessments charged by our local tax office will also impact the amount we collect for your real estate taxes. We encourage you to contact your local tax office for any questions regarding changes to your real estate taxes.

New construction: Differences may occur with partially assessed real estate tax bills for new construction. Typically, the first tax bill for new property is only for the lot/land. We may have received a bill for the fully assessed value which includes the land and the house.

Initial escrow deposit: Escrow is sometimes estimated at loan closing because information may not be available at that time. If the amount collected for the setup of your escrow account was more or less than the actual bills received for real estate taxes and/or insurance premiums, this will cause your monthly mortgage payment to change.

Shortages can be paid in full 15 days before your new monthly payment change date noted on your escrow statement.

  • Sign in to your account to pay online.
  • If you receive paper billing statements, you can simply write in the shortage amount under the “Additional Escrow” field on the billing coupon when mailing your mortgage payment.
  • You may also call Client Services at 800-634-7928 to make a shortage payment over the phone without any fee.

No. Your payment change generally includes two things: Shortage in your current escrow account balance, as well as adjustment to your monthly escrow amount going forward. While paying the outstanding escrow shortage reduces the deficit, Truist still has to adjust the collection amounts needed to keep up with those changes for the coming year.

However, your monthly mortgage amount will increase less if you pay it in full rather than choosing the 12-month spread. Otherwise, 1/12 of the shortage is added to your principal and interest each month along with the extra funds needed to keep up with those taxes and/or premiums.

Keep an eye on changes to your bills for property taxes and homeowners insurance. Your local tax office and insurance provider should notify you of changes to your bill even though we pay those bills out of your escrow account.

You can view the payments made to the tax authority and/or insurance carrier in your account at any time. These will reflect changes in the available escrow balance.

You can also sign up for alerts on to receive notifications whenever we make a payment on your behalf from your escrow account. You can also be alerted when an escrow analysis is coming up for your account.

Prior to the annual analysis, you can fund your escrow account to help avoid a shortage. You can also shop for equal or better coverage with other carriers that could result in reduced premiums for your homeowners insurance.

Frequently asked questions about real estate taxes

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Regular real estate tax bills are paid on your behalf by Truist from your escrow account. Occasionally, your local government may charge you an additional amount affecting your property. This is not covered by your escrow account and which will remain your responsibility.

Some of the bills you are responsible for paying include, but are not limited to, supplemental, Pro-Rata, ½ Year or ¾ Year Levy, special assessment, solid waste, utility, HOA (Homeowner Association), and water/sewer usage bills. Your escrow account does not include funds to pay these bills.

We obtain your real estate tax amount based on your tax identification number/assessor parcel number and disburse the funds from your escrow account. Taxes are paid prior to the due date. If the tax office offers an early pay discount, your taxes will be paid early enough to utilize that discount.

Yes, real estate taxes are usually deductible if you itemize deductions on your tax return. However, you should consult your tax advisor for more information.

For improvements: A special assessment may be charged against your property due to improvements from which you benefit, including street and sidewalk repairs or sewer construction. If you receive this interim/supplemental/pro rata/occupancy bill, it is very important that you pay it, because Truist has no knowledge of this bill and did not plan for payment of the bill from your escrow account.

Special notice to Georgia homeowners: In Georgia, if you appeal your property value you have an opportunity to request Truist be billed for the full tax amount. If you win your appeal, the tax office will refund you the difference. If you lose your appeal, all taxes are paid. In the event you didn’t request the property be billed for the full tax amount and the appeal is lost, the tax office will send you a bill for the balance owed. This bill is not received by the mortgage company and it is your responsibility to notify us if payment is needed.

Special notice to South Carolina homeowners: South Carolina offers a legal residence exemption, if the property is your primary home. Please contact your local tax office to obtain the specific requirements.

For new construction: Typically, the first real estate bill for new construction is for the lot/land only. You may receive an interim/supplemental/pro rata/occupancy real estate tax bill. In most cases, collection for this bill is not included in the current escrow collection and Truist has not received a bill.

If you receive a real estate tax bill marked "COPY" or "FOR YOUR INFORMATION," you do not need to send it to Truist. In all other instances, please write your 10-digit loan number on your real estate tax bill and forward it to:

Tax Department, Truist – 0011883
P.O. Box 92370
Rochester, NY 14692

Attn: Tax Department, Truist – 0011883

Upload to:

Truist obtains tax amounts based on the parcel number, which identifies the property based on the legal descriptions and property addresses from the tax and/or assessor's office.

Tax amounts are obtained in an automated manner from the taxing localities, except in those areas where the tax office does not release bills to a third party. If this is the case, you will receive a letter requesting that you forward your real estate tax bill to us.

Those bills are typically not sent to us by your tax authority. We encourage you to pay these bills yourself to help avoid a shortage in escrow. We will pay interim, supplemental, and occupancy real estate bills if you provide us with the real estate bill amounts at least 14 days prior to the due date on the bill.  

All bills or documentation pertaining to taxes can be sent to our Tax Customer Service Department.  Please write your 10-digit loan number on your real estate tax bill and forward to:

Tax Department, Truist – 0011883
P.O. Box 92370
Rochester, NY 14692

Attn: Tax Department, Truist – 0011883

Upload to:

What are my homeowners insurance responsibilities?

Homeowners insurance ensures that your home will be replaced or the damage will be repaired, up to the amount of coverage obtained, for losses from fire and other hazards covered by the standard extended coverage endorsement.

All mortgage lenders require homeowners to have homeowners insurance. As a homeowner, and in accordance with your deed of trust or mortgage, you need to maintain adequate homeowners insurance coverage at all times.

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Flood insurance is required in areas where the dwelling is located in a Special Hazard Flood Area. The flood insurance policy should reflect the same zone as the property rating as determined by a Special Flood Hazard Determination.

Flood insurance is highly recommended for all clients, regardless of flood zone, to fully protect their interest. Please contact your insurance agent if you have questions regarding requirements for flood insurance. The flood insurance policy should also meet the National Flood Insurance Program (NFIP) requirements or the Federal Emergency Management Agency (FEMA) guidelines for a private flood insurance policy.

For condominium units, the homeowners association typically provides the minimum hazard and flood insurance that we require. You should consult an insurance professional for advice on any additional insurance you may need for your own protection. Keep in mind that if the association’s policy is not sufficient, then you will be required to obtain additional coverage.

Earthquake insurance is usually carried on a voluntary basis.

Windstorm coverage is typically covered in the extended coverage endorsement of the standard homeowners insurance policy. If your homeowners insurance policy excludes windstorm coverage, a separate policy providing windstorm coverage is required in addition to the homeowners policy.

Should I inform Truist if I make changes to my homeowners insurance policy?

Yes. It is important to maintain the required insurance policies on your home. If Truist does not have proof of the appropriate insurance coverage, we are required to obtain lender placed insurance to protect our interest in your property.

You can access your policy details and provide updated policy details by visiting

If you need help paying for your non-escrowed insurance policy, please call us at 866-515-2139 to discuss how we can pay your premium and establish an escrow account.

Insurance mailing address:
Truist Bank (ISAOA/ATIMA)
PO Box 7952
Springfield, OH 45501

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