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4/30/25 What Is an Escrow Account, and How Does It Work? Previous What Does the Home Appraisal Process Look Like? Next What Should I Know About Interest Rates and Locking in a Rate? You Might Also Like What Should I Know About Interest Rates and Locking in a Rate? What Does the Home Appraisal Process Look Like? What Are Closing Costs, and How Much Should I Budget? What is the First Step in Getting Pre-Approved for a Mortgage? How Much Do I Need for a Down Payment?