ESCROW WAIVERS
ESCROW WAIVERS ON CONVENTIONAL LOANS UP TO 95% LTV
Mile High Mortgage Brokers now allows escrow waivers (known as impound waivers in California) up to 95% LTV on most conventional loans* — and still no escrow waiver fee. We believe in giving choices to our clients so they can determine what best fits them. Waiving escrows allows you to pay their taxes and insurance on your own, with a lower monthly payment and less money brought to the closing table means more money in your pocket at closing time. Talk to us to learn more.
KEY FEATURES
No escrow waiver fee
Eliminates initial escrow (impound) deposit
Available on most conventional loans with a 640+ FICO up to 95% LTV*
Available on most VA loans with a 640+ FICO up to 100% LTV*
Option to waive just taxes, just insurance or both
Escrow must be waived prior to funding
WHAT THEY'RE SAYING
As brokers participating in virtual e-closings, I can tell you that this is going to change the way we all do business for the better. It’s always exciting when our industry takes a big leap towards a better consumer experience.
Chad Humphrey
Mortgage Broker
Mile High Mortgage Brokers
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215 Wilcox Street 2305 CASTLE ROCK, CO 80104-2560
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Disclaimer
Edge Home Finance Corp, is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580. Edge Home Finance Corp is a licensed mortgage broker in the following states CA, CO, FL, MN, NC, ND, WI and TX. The following states require disclosure of licensing information. (If your state is not listed, it does not require a specific license disclosure):
CALIFORNIA – Licensed by the Department of Business Oversight under California Finance Lenders Law
COLORADO – Edge Home Finance Corp, 4530 W 77th St Suite 365 Edina, MN 55435, (763) 219-8484; to check the license status of your mortgage broker, visit http://www.dora.state.co.us/real-estate/index.htm
TEXAS – CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV