Let’s take a deep breath and systematically unpack the various types of appraisals that you might encounter.

When shopping for a mortgage, you’ll encounter two primary types of originators outside of the traditional bank setting: the Mortgage Broker and the Correspondent Lender.

Before diving into math, let’s confirm the basics. Your escrow account is a dedicated savings fund, managed by your mortgage servicer, solely for handling big annual bills related to your home.