I am paying $270 into escrow - it seems too high?

Your lender looks at the property taxes for your property and they look at the annual home owners insurance premium and base the monthly payment on what those annual costs are. Since they (your lender) have no control over what your county charges for taxes or what your insurance company charges you for home owners insurance, There's really nothing your lender can do, since these charges are not theirs.. they only make it convenient for you by allowing you to pay them monthly, and they put the money in your escrow account so the funds are there to pay the taxes and insurance when they come due.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

The monthly escrow fee is for you property taxes and sometimes it can include your homeowners insurance. Ask your lender for the breakdown so that you have a better understanding of the costs.,