Home Buying in Omaha>Question Details

alez, Other/Just Looking in Omaha, NE

Do lenders require people to pay their taxes monthly or do you have the option of paying it off at the end of the year?

Asked by alez, Omaha, NE Sun Dec 9, 2012

First time homebuyer.

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Dennis Clark’s answer
If you put 20% down, you have the option to pay your taxes and insurance on your own. There is typically a .25% charge to take care of your own escrows. If you would like to discuss this more,
contact me at 402-333-5432.


Dennis W Clark
Freedom Lending, LLC

0 votes Thank Flag Link Mon Dec 10, 2012
Taxes are part of your monthly payment to the lender and held in an escrow account so funds are available for them to pay your taxes to the county. Taxes are paid in half's (required) to the county so paid twice a year. Insurance is also help in escrow and part of your monthly payment to the lender.

Discuss with your lender. Without a substantial down payment, the lender most likely will require you to
add taxes for the escrow as part of your monthly house payment.
0 votes Thank Flag Link Sun Dec 9, 2012
Lenders usually require that they pay your taxesbut the good news is you usually get a slightly better rate for them to use your money. If you are putting 20% down you get the option to pay your own. Call Steve Winteroff at Enterprise Bank he is very knowledgeable and will give you a great rate. 250-6342
0 votes Thank Flag Link Sun Dec 9, 2012
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