Waiving Escrow for Taxes and Insurance

[dsconja]

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

[Admin]

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.

[dsconja]

I kind of figured it would depend upon lender and program. Thanks for the reply and sharing your experience.

Bennie