Tag: Dallas property taxes

The Relationship Between Home Insurance, Appraised Tax Value and Mortgage Loan Amount

There are two questions I’m frequently asked, either by home owners or buyers as it relates to the insured value of their home. The first question is about the appraised value of a home as listed in the county appraisal district and the second is about the purchase price and/or loan amount of their home. In both cases, the question is what is the relationship between the amount of insurance they have on their home and either the tax or loan value of their home? Let’s look at all three and contrast them.

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Home Insurance, Property Taxes, and Escrow Accounts

I’ve received several calls from clients over the past couple of months. In each case, they’d received a notice from their mortgage company notifying them their mortgage payment was changing due to a deficit in their escrow account. They had the option of paying the escrow shortage or it could be factored into their already increased monthly home mortgage payment. The same thing happened to Sheri and me.

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