Does a VA home loan require an escrow account for taxes and insurance?
Anonymous User Asked:
In doing my research comparing a VA loan versus a conventional loan, it appears that if you put 20% down on a conventional loan there is no escrow account required. I would be able to pay my own taxes and insurance directly each year. What is... (more)
Sabra Richins Answered:
A VA insured loan is only needed when you are putting less than 20% down on a home. If your down payment is 20% or higher, you do not need a VA loan. An escrow account is normally required if you are borrowing more than 80% of the value, which is... (more)
Have a Specific Question?
Do I have any recourse for lender not following the FHA flipped rule?Can I remove MIP from my FHA if my home value goes up?What credit score is ideal when applying for loans?How can I find out if I can use a VA loan to buy a condo that we're looking at?I had a bankruptcy not long ago. If I want an FHA loan, how long do I have to wait before applying?What is the minimum down payment I can make for an FHA loan?Can I payoff my FHA loan without being penalized or charged for early payoff of the loan?see more