PNC Escrow Guide

Understand your PNC escrow account and escrow analysis statement


When your loan is created, PNC sets up an escrow account to allocate the funds to cover certain property-related expenses like taxes and insurance costs. As you make your mortgage payments, a portion is set to fund your escrow account. Then when the taxes and insurance bills are due, PNC uses the funds in your escrow account to pay for these bills.  

This mortgage escrow account remains open for the loan term or until PNC and you agree to close the escrow account and have you pay the expenses directly.

Number One


House is purchased with a mortgage through PNC.


Number Two

Escrow Account

PNC opens up an escrow account.


Number Three

Escrow pays:

  • Homeowners Insurance
  • Property Taxes
  • Private Mortgage Insurance


Escrow Analysis Statement

The amount required in the escrow account could change if your property taxes and insurance go up or down – this may mean you have a shortage (not enough) or a surplus (too much) in your escrow account.

PNC reviews your account each year to make sure you’ll have enough to cover required costs and sends you an escrow analysis statement with the results of our review.

How We Balance Escrow Accounts

PNC Personal Escrow Analysis Statement Example

PNC Personal Escrow Analysis Statement Example
Number One

PNC estimates the new escrow portion of your mortgage payments, based on the annual tax and insurance payments from the previous year, then divided by 12 or by the number of the scheduled mortgage payments in a year.

Number Two

PNC prepares a prior year activity table to visualize any differences between previous year’s estimates and actual escrow transactions, all differences will present an asterisk (*) next to the amount. This chart also displays the final escrow account balance that will be used as a starting point for the next 12-month escrow projection.

Number Three

PNC uses the estimated escrow payment from step 1 to forecast what will be paid into and out of the escrow account along with the estimated balance after each transaction for the next 12-months.

Number Four

PNC marks with two asterisks (**) the projected minimum balance within the next 12-month projection.

Number Five

PNC analyzes the projected minimum balance (indicated by **) and determines if:

  • There is a shortage: the projected minimum balance is less than twice the new monthly escrow payment excluding MIP/PMI, unless your mortgage document or state law specifies a lower amount, the shortage will be spread over the next 12 months.
  • There is a surplus: the lowest balance is more than twice the new monthly escrow payment excluding MIP/PMI. Unless your mortgage document or state law specifies a different amount, surpluses below $50 will be applied to reduce your payment. A check will be included in your statement analysis if the surplus is at/above $50. If your account is delinquent or not paid up-to date, connect with PNC once the outstanding payments are made, to have the surplus refunded or applied to future mortgage payments.
  • The account is even: the lowest balance equals to twice the new monthly escrow payment, excluding MIP/PMI. Unless your mortgage document or state law specifies a different amount, neither a shortage nor a surplus exists.


Your payment will reflect any changes to your escrowed expenses. This could include changes to your property taxes, insurance premiums, or other costs included in escrow. 

Your property taxes may change due to a review by your local taxing authority. Similarly, your insurance premiums may be adjusted due to a review of risk and coverage amounts.

PNC does not have detailed information about why your taxes or insurance premiums changed – you’ll need to contact your local tax office or insurance company for more information.

PNC automatically spreads the shortage over your next 12 months of payments. If you want to ask about other options, call PNC at 1-800-822-5626.

PNC should also receive a bill, and make any adjustments needed. You won’t need to take any action, just keep the bill for your records – PNC will continue to make the payments from your escrow account. 

If you have an escrow account for taxes and the tax bill is for delinquent taxes due, call PNC at 1-800-822-5626

If PNC asks you to send us a copy of your tax bill, include your mortgage account number and forward it to:

PNC Bank
Attn: Tax Department
P.O. Box 1804
Dayton, OH 45401-1804

If you’re in Pennsylvania, California, Virginia, Maryland, New Jersey, Idaho, Iowa, Maine or Connecticut: Supplemental or special/additional assessment tax is not escrowed. You will be responsible for paying these bills.

If you have an escrow account for insurance, forward a copy of your bill with your mortgage account number to:

PNC Bank
P.O. Box 7433
Springfield, OH 45501

Any time you change your insurance carrier, give your new carrier your mortgage account number and PNC’s contact information:

PNC Bank, NA
P.O. Box 7433
Springfield, OH 45501

There could be two reasons why your "What was estimated to be paid" section under the Escrow expense breakdown could display a hyphen/dash instead of a specific amount:

  1. This is the first escrow analysis since PNC acquired the mortgage from another servicer.
  2. This is the first escrow analysis since PNC started escrowing for a mortgage which didn’t previously have an escrow account

If none of the above apply to you, please connect with us at 1-800-822-5626

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