Borrowers receive two statements from IHFA each year. One is a Year-End Statement that lists the amounts applied as interest, taxes, insurance and principal paid on the mortgage balance during the prior year. This statement is mailed in January and should be used for tax purposes.

The second statement is an Escrow Account Disclosure Statement that details monthly payments into and out of the borrower’s escrow account. All borrowers pay principal and interest on their mortgage loan plus an escrow amount that IHFA uses, on the borrower’s behalf, to pay property taxes and insurance on the home.