Pay Your Own Taxes And Insurance.
An escrow waiver lets you handle property taxes and homeowners insurance yourself instead of through the lender.
Handle the bills yourself, where the loan allows it
Escrow waivers are available on eligible loans, and partial waivers are acceptable.
- An escrow waiver means you pay property taxes and homeowners insurance directly.
- Loans with escrow waivers are eligible for sale to at least one of our investors.
- Waivers for homeowners insurance or property taxes are eligible, with exceptions.
- Partial waivers covering only insurance or only taxes are acceptable.
- Waivers are only available on loans that fall outside certain federal pricing rules.
- Whether a waiver is available depends on the loan, not simply on preference.
You pay taxes directly
You pay insurance directly
Partial waivers acceptable
Eligible for investor sale
Federal rules limit eligibility
Depends on the loan
What is a Saxton escrow waiver?
Managing your own tax and insurance payments rather than escrowing them monthly.
On most mortgages the lender collects a portion of your annual property taxes and homeowners insurance with each monthly payment, holds it in an escrow account, and pays the bills when they come due. It is convenient and it is the default. It is not the only option.
An escrow waiver hands that responsibility back to you. You pay the tax bill and the insurance premium directly when they arrive. Some owners prefer this because they would rather hold the money themselves through the year. Others simply want a smaller monthly payment and are comfortable budgeting for large annual bills.
Availability is not purely a matter of preference. Waivers are only available for loans that fall outside certain federal pricing rules, so some loans cannot have one regardless of the borrower. Where a waiver is available, it can be full or partial. A partial waiver covering only homeowners insurance or only property taxes is acceptable.
Why ask Saxton about an escrow waiver?
For owners who would rather manage the annual bills themselves.
Full Or Partial
You are not limited to all or nothing. A partial waiver covering only taxes or only insurance is acceptable.
Not Every Loan Qualifies
Waivers are unavailable on loans caught by certain federal pricing rules. We will tell you which side of that line your loan sits on.
Budgeting Is On You
Removing escrow means a large bill arrives once or twice a year. That suits some owners and catches others out. Worth thinking about honestly.
Ask Before You Close
A waiver is far easier to arrange as part of the original loan than to sort out afterward.
We Will Give A Straight Answer
Whether you can waive escrow is a question with a real answer for your specific loan. We would rather check than generalize.
Arrange It At The Start
A waiver is far simpler to put in place with the original loan than to change afterward, so raise it before closing.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about waiving escrow.
It means you pay your property taxes and homeowners insurance directly when they are due, rather than paying into an escrow account with your monthly mortgage payment.
No. Waivers are only available for loans that fall outside certain federal pricing rules, so eligibility depends on the loan itself rather than on preference alone.
Yes. Partial waivers for homeowners insurance only, or property taxes only, are acceptable.
It lowers the monthly amount collected, because the tax and insurance portion is no longer included. The bills still arrive, just annually rather than monthly.
It shifts responsibility to you. If you are disciplined about setting money aside for a large annual bill it works well. If not, escrow is the safer default.
That depends on your loan and servicer. It is worth asking before you waive rather than assuming it can be reversed.
Before closing. Arranging a waiver as part of the original loan is considerably simpler than changing it afterward.
Find out what you qualify for
If you would rather handle the tax and insurance bills yourself, ask us early and we will check whether your loan allows it.
Get Pre-Qualified*Escrow waiver availability is determined by the applicable loan program, investor requirements and federal regulation, and is subject to credit approval. Waivers are not available on all loans. Where a waiver applies, the borrower is responsible for paying property taxes and homeowners insurance directly and on time. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.