Is an initial deposit required to establish an escrow account?

There is no fee required to establish an escrow account with Rushmore; however, a deposit for the purpose of creating an initial balance in your escrow account will be required. Over the first 12 months that your escrow account is active, Rushmore will collect a deposit in 12 equal payments. This amount is in addition to what is collected to pay all installments of taxes and/or insurance premiums to be paid from your escrow account.