Property
Tax and Insurance
 Each month, a portion of the mortgage payment is placed in an
“escrow” account that accumulates money to pay property taxes
and home owners’ insurance. Copies of these bills may by kept
for your records UNLESS:
The home was newly constructed and the owner receives
“Occupancy” bills for the property taxes.
The home owner receives an insurance bill that lists a
company other than Idaho Housing and Finance Association as the
mortgagee.
In these instances, borrowers should forward a copy of the
bill—with the loan number—to IHFA Mortgage Services, P.O. Box 7899, Boise, ID,
83707.
IHFA Mortgage Services reviews escrow accounts annually. At that time, monthly payments are adjusted to reflect any changes in the billing amounts
for property tax and insurance.
Welcome Home Packet
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