Taxes, Insurance and Home Loan Rates

Ever wondered why your mortgage rate goes up when you choose to pay property tax and homeowner's insurance on your own?  Oftentimes, clients like to pay tax and insurance bills on their own however the rate on their home loan increases when they do so. Impounding Taxes and Insurance in Your Home Loan Payment  Homeowner's figure paying taxes and insurance allows them to keep more money on hand.   Putting that money in interest bearing accounts until tax and insurance bills are due creates a … [Read more...]