Which of the following will be paid for as part of the escrow funds included in a mortgage loan?(1 point)

Responses

Car insurance
Car insurance

Principal on home loan
Principal on home loan

Property tax
Property tax

Home warranty
Home warranty

1 answer

Among the options listed, the item that will typically be paid for as part of the escrow funds included in a mortgage loan is:

Property tax

Escrow accounts are generally used to collect and hold funds for property-related expenses such as property taxes and homeowners insurance, but car insurance and home warranties are usually not included. The principal on the home loan is a separate payment made directly to the lender.