Financing in 53511>Question Details

Matthew M Bu…, Home Buyer in Beloit, WI

is it posible to have home owners insurence and property tax roled in to the monthley morgage payment?

Asked by Matthew M Buroker, Beloit, WI Tue Feb 22, 2011

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Yes it is, and it makes it easier for most people.
0 votes Thank Flag Link Wed Feb 23, 2011
Yes you may be able to have an escrow account. If you are putting down 20% lender do not require you to have one. But you may ask them to set it up for you. Some mortgage servicers are not set up to do this. If the lender does not have this available for you, you can also do it for yourself. Set up a bank account just for these payments. Make sure that you put the money in every month and do not use it for anything else. If you set up your own account add a little extra every month just in case the taxes go up next year.
Debby Thompson
Homestread Realty Inc
0 votes Thank Flag Link Wed Feb 23, 2011
Hi Matthew!

Yes it is possible and HIGHLY recommended. Depending on the circumstance you can have stuff separate but it is not a good idea.

Jonas Mancuso
Remax Int'l
0 votes Thank Flag Link Tue Feb 22, 2011
Yes it is and most lenders require it be done that way.
0 votes Thank Flag Link Tue Feb 22, 2011
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