Updated almost 11 years ago on . Most recent reply
Brandon SturgillPoster
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Do You Escrow Taxes and Insurance on Small Mulitfamily?
Do you escrow these into the mortgage payment of pay on some other basis? Why?
- Brandon Sturgill
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Bill Gulley
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
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Commercial loans on small deals generally don't escrow, with 20/25+% down they simply check taxes and ask for proof of insurance, escrows cost lenders money. Secondary market loans generally do escrow, that depends on the LTV.
I write checks as thing are due, my money stays with me (not like it's not already spent, LOL) but deposits add up and they earn a bit of interest, better than letting go of the money. Just part of money management.