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)
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