When you apply for a loan to buy real estate and the loan is preliminarily approved, the lender sends loan documents for the borrower such as you to sign. The loan application sets forth the terms and conditions for the loand such as interest rate, amount, term and whether there is an impound account for future monies to be paid where an escrow is to be set up.Read your loan application and all other documents associated with the terms and conditions for getting your loan. If an impound account for future monies to be paid and held in escrow for eventual payment is not stated, then holding back monies in the escrow account post close would not seem to be allowed under the terms of your loan.