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re: VA loan

Posted on 10/28/15 at 8:38 pm to
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
89808 posts
Posted on 10/28/15 at 8:38 pm to
quote:

No PMI, but should still have insurance and property tax in escrow?


Yes - you still pay your normal escrow, monthly.

ETA: Unless banking practices have changed a lot in 5 years, I think they quote you the P&I. Your escrow isn't set until the closing packet is done, homeowner's carrier selected, NFIP (if applicable) and all that stuff is decided, although some loan officers, I'm sure, have an estimator and talk that through with the lendor.
This post was edited on 10/28/15 at 8:41 pm
Posted by Tigerpaw123
Louisiana
Member since Mar 2007
17316 posts
Posted on 10/28/15 at 8:42 pm to
So a 180k loan at 4.5% would have a monthly payment of just over$900 and $300 worth of escrow would be reasonable and would equal the 1200 payment the op is speaking of?
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