Can I get a loan without escrow?

Depending on your financing type and the amount you put down toward the purchase of the home -- yes -- you can pay your own taxes and insurance. If you are using a government loan (USDA, VA, FHA) -- those costs (as well as other fees) are built into your monthly payment. Most times -- using conventional financing with 20% down and you can be in control of paying those associated costs yourself.

Yes, it's possible, but it depends on your loan type, your lender, and how much equity you have. Most lenders require escrow on loans with less than 20 percent equity. Once you've built 20 percent or more equity, many lenders will let you waive the escrow account. Some charge a small fee to do so, usually a quarter point of the loan amount. Others do it for free. Call your loan servicer and ask about their escrow waiver requirements. FHA loans require escrow for the life of the loan. You can't waive it. VA loans generally require escrow as well. Conventional loans are the most flexible on this. The practical reality is that the interest you'd earn on that money in a savings account is minimal. On a $5,000 annual tax and insurance bill held in escrow, you're missing out on maybe $100 to $200 a year in interest at current savings rates. The risk of managing it yourself is that if you don't set the money aside and come up short when the tax bill or insurance premium is due, you're in trouble. Lenders require escrow partly to protect themselves, but it also protects you from a large lump sum hitting you all at once. If you're disciplined enough to set the money aside monthly in your own account and pay the bills on time, escrow waiver works fine. If there's any chance you'd spend it and come up short, the forced savings of escrow is doing you a favor.

You can pay your own taxes depending on your mortgage company rules. Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

Yes, but it depends on your lender and loan type. Some conventional loans allow you to waive escrow if you have strong credit and enough equity. However, most lenders prefer escrow accounts because they ensure property taxes and insurance are paid on time. It’s convenience versus control.

I work with a wholesale lender that allows escrow waivers on most conventional loans up to 97% LTV keep in mind that you have to meet the requirements.