Does Provident Funding allow NO escrow for LTV<80%? - 未名空间MITBBS历史存档

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Does Provident Funding allow NO escrow for LTV<80%?

Does Provident Funding allow NO escrow for LTV<80%?# Living

j*d2012-06-06 07:06

1 楼

Anybody here refinanced with PF recently (either through PF retail division
or through a broker) can comment if or not Provident Funding allow NO escrow
for LTV<80%?. Thanks
https://www.provident.com/Origination/Information/Faq/General.aspx
Based on 15 and 16 of the above FAQ from provident funding website, there is
no escrow account required for LTV <80%, and the rates would be same with
and without escrow account. Any personal refi experience recently that
confirm this?
"15. Do I need an escrow/impound account?
Provident Funding only requires an escrow/impound account when your loan-to-
value ratio exceeds 80%. If your property is in California, we will only
require an escrow/impound account for your taxes and insurance when your
loan-to-value exceeds 90%.
16. Will I receive a better rate or price by electing to have an escrow/
impound account with my loan?
No. Provident Funding's pricing remains the same, whether or not you choose
to establish an escrow/impound account when applying for a loan with
Provident Funding’s Retail division. "

b*d2012-06-06 07:06

2 楼

你好像已经回答了自己的问题了,如果有20%的首付,就不需要escrow account了.

division
escrow
is
to-

【在 j********d 的大作中提到】

: Anybody here refinanced with PF recently (either through PF retail division
: or through a broker) can comment if or not Provident Funding allow NO escrow
: for LTV<80%?. Thanks
: https://www.provident.com/Origination/Information/Faq/General.aspx
: Based on 15 and 16 of the above FAQ from provident funding website, there is
: no escrow account required for LTV <80%, and the rates would be same with
: and without escrow account. Any personal refi experience recently that
: confirm this?
: "15. Do I need an escrow/impound account?
: Provident Funding only requires an escrow/impound account when your loan-to-

b*22012-06-06 07:06

3 楼

如果是通过wholesale申请, 有escrow account的pricing会好一些.

j*d2012-06-06 07:06

4 楼

Thank you two for the reply.
Yes, the FAQ says that clear on paper. What I am looking here is a "real
world" confirmation to see if there is anyone or broker who recently did
refi from PF without escrow for LTV<80%. I did so with WF before, and the
rate stay same with or without escrow.
Frank, can you elaborate on how broker (通过wholesale申请) can provide
better pricing if PF says the escrow doesn't change rate for LTV<80%? It
seems that PF doesn't care escrow if LTV<80%, at least the retail division.

b*22012-06-06 07:06

5 楼

对broker来说, 有escrow account会有0.25%的better pricing. for example, 40W的
loan, 如果有escrow account, 就多了$1000 cover closing cost.
但是based on the website, retail可能没有区别.

.

【在 j********d 的大作中提到】

: Thank you two for the reply.
: Yes, the FAQ says that clear on paper. What I am looking here is a "real
: world" confirmation to see if there is anyone or broker who recently did
: refi from PF without escrow for LTV<80%. I did so with WF before, and the
: rate stay same with or without escrow.
: Frank, can you elaborate on how broker (通过wholesale申请) can provide
: better pricing if PF says the escrow doesn't change rate for LTV<80%? It
: seems that PF doesn't care escrow if LTV<80%, at least the retail division.

j*d2012-06-06 07:06

6 楼

That explains - thank you Frank

b*22012-06-06 07:06

7 楼

my pleasure