Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are Impound Accounts Required?

accounts Impound
0
Posted

Are Impound Accounts Required?

0 CommentsAdd a Comment

1 Answer

0

Government loans, FHA and VA require an escrow to be established when a new purchase or refinance transaction is finalized. If the LTV is low enough on certain other loan programs, an escrow waiver is allowed. However, there is typically a higher interest rate associated with a mortgage payment that doesn’t have an escrow account due to the lender taking on more risk.

0 CommentsAdd a Comment
What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.