Are there any other ways of having lenders waive escrow for taxes and hazard insurance other than having minimum of 80 LTV or some sort of long-term business relationship? Does it vary from lender-to-lender?
I was just curious from a cashflow standpoint, especially for an owner-occupied property.
Thanks,
Bennie
Bennie,
Thanks for joining us. Depending on which programs your lender has access to, I’ve seen 90% with escrow waivers. My recollection is the waiver fee was $300 to $400.
I used to do that on many loans, but no longer do so. I got tired of keeping everything separate, floating the differences, etc. From a financial standpoint, it makes sense. From (my) practical standpoint, it no longer does.
I kind of figured it would depend upon lender and program. Thanks for the reply and sharing your experience.
Bennie