Can I remove my escrow account?

Options to remove an escrow account from a loan vary based on factors such as state laws, investor guidelines, loan type, property type and Loan-to-Value (LTV) ratio.

If the loan qualifies, tax payments and homeowners' insurance premiums may be removed from escrow collection. However, there are certain types of payments that must be escrowed:

• Private Mortgage Insurance (PMI) must be paid through your escrow account.

• Customers who reside in a flood zone and are required to have flood insurance may not be able to waive an escrow account.