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Question of the Day |
Today's Question
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Can I pay my own taxes and insurance? I am going to refinance. My current loan does not require me to escrow for taxes and insurance, and I'd like to find another loan like that. Are there lenders that offer this option? Many lenders will allow you to pay your own taxes and insurance. However, you'll need to ask for it -- and pay for it. The proper term you'll need to use is "Escrow Waiver", and most lenders will charge you a dollar fee equivalent to 0.25% of the loan amount (i.e. $250 for a $100,000 loan). |
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