Can I Remove My Escrow Account?

Hello and welcome to Houston first time home buyers edition. Thank you for visiting us today. Can you remove your escrow account? Yes, if you have certain conventional loan, and no, if you have an FHA, VA or USDA loan. Let's explain.

Getting rid of your escrow account will depend on your loan type and your mortgage company. If you have an FHA, or USDA loan, you cannot remove your escrow account. It will remain for the life of the loan. For VA loans, while the escrow account is not a mandate, all most all lenders will require it.

For conventional loans, you may be able to have your escrow account removed, however you will need to check with your mortgage company regarding the necessary requirements and steps.

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please give us a call 713.204.8013 or Email us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana