Home Property Tax?

[slow99]

I didnt have an option.

I did.

[Chili]

I didnt have an option. It's part of my loan requirements.

FHA? I believe they will always require escrow. You would have to go conventional with the right LTV (used to be 80%, but I have been out of it for years).

I did.

You probably have a jumbo loan and put 20%+ down!! Choo Choo!

[slow99]

You probably have a jumbo loan and put 20%+ down!! Choo Choo!

I would never put 20% down.

[Baron Von Crowder]

FHA? I believe they will always require escrow. You would have to go conventional with the right LTV (used to be 80%, but I have been out of it for years).



You probably have a jumbo loan and put 20%+ down!! Choo Choo!

I put 28% down, it just wasnt an option for me. I was told that I was going to have to have an escrow, and I was ok with that.

[Broncojohnny]

Some loans require an escrow

[Broncojohnny]

I would never put 20% down.

I almost have my shit paid off, where else to go has been a question for a while. I can get 3% on my money in this rock solid investment product lol

[quikag]

Ours did it - it'll do that when the house hasn't transacted in years then they set it to the price you paid for it. What pisses me off is the way the escrow is handled. I knew they weren't holding out enough last year so I called and asked them what happens in a year (now) and they said I'll just make up the value. No problem, but instead of just the value from last year, they're assuming it'll rise like that again next year.

So, my monthly mortgage/tax payment just jumped $700 a month on me. Again, I get it, just pissed they explained it wrong when I was being proactive about it.

Honestly, I'm surprised you had to escrow.

[slow99]

Honestly, I'm surprised you had to escrow.

Did you read the thread? I didn't have to escrow.

[SVT Lurch]

If the first lien is 80% or less of the value of the house/purchase price you should not be required to escrow taxes and insurance on a conventional loan.

[slow99]

I almost have my shit paid off, where else to go has been a question for a while. I can get 3% on my money in this rock solid investment product lol

I have a guaranteed 7.25% alternative.

[SVT Lurch]

i have a guaranteed 7.25% alternative.

CHOOO CHOOOo

[slow99]

CHOOO CHOOOo

I'd hardly say a shitload in student loans was choo choo worthy.

[Chili]

If the first lien is 80% or less of the value of the house/purchase price you should not be required to escrow taxes and insurance on a conventional loan.

That's what I thought. Wasn't sure if it changed in the 15 years since I have been out of the industry.

[SVT Lurch]

I'd hardly say student loans was choo choo worthy.

I read that as you guys were were earning that much interest. Wasn't paying too much attention since it wasn't technically relevant to the thread.

That's what I thought. Wasn't sure if it changed in the 15 years since I have been out of the industry.

No sir, it's one of the few things that hasn't.

[Roscoe]

Wonder if I can "cancel" my escrow.... I've never seen one get it right at all..