What Does “Escrow Removal Eligibility” Mean?

Short Answer

Escrow removal eligibility means your loan meets the requirements to allow you to stop including property taxes and insurance in your monthly mortgage payment.

What’s Happening

You may be considering paying your property taxes and homeowners insurance directly instead of having them paid through your mortgage escrow account.

Before this change can be made, your loan must qualify under specific guidelines.

What It Means for You

To be eligible, your loan typically must meet requirements related to:

• Your loan type
• Your remaining loan balance compared to your home’s value
• Your recent payment history
• The terms of your mortgage agreement

Some loans are not eligible for escrow removal at all.

Important distinctions:

• Removing escrow does not change ownership of your property.
• You remain financially responsible for your mortgage loan.
• If escrow is removed, you become responsible for paying property taxes and insurance directly and on time.
• Only borrowers listed on the loan — or someone you have authorized — can request or discuss escrow eligibility.

Meeting general guidelines does not guarantee approval. Each request must be reviewed.

What You Should Do Next

If you want to know whether you qualify:

1. Contact us to request an eligibility review.
2. Be prepared to confirm your recent payment history and loan balance.
3. Submit a written request if instructed. We will provide next steps after you contact us.

For full details, see Am I Eligible to Remove Escrow From My Mortgage? or contact us for assistance.

Important Information

• Not all loans qualify for escrow removal.
• Approval is not automatic.
• If approved, you are responsible for paying taxes and insurance directly.

Contact Us If

• You’re unsure whether your loan allows escrow removal
• You want to request an eligibility review
• You have questions about how removing escrow would affect your payments