Understanding Escrow Analysis: Avoiding Negative Balances

In episode four of The Borrow of Better Way podcast, host Matthew Bell, a 20-year mortgage veteran, delves into the intricacies of escrow accounts. Matthew explains how lenders use these accounts to pay taxes and insurance on behalf of homeowners, ensuring timely disbursements and preventing account deficits. He outlines the purpose of escrow analysis, the importance of ensuring sufficient monthly withholdings, and actions homeowners can take to proactively manage their accounts. Essential tips include verifying monthly payment adequacy, preparing for possible increases, and exploring options if faced with negative balances. By understanding and anticipating changes in escrow, homeowners can avoid financial surprises and maintain better control of their mortgage payments.

00:00 Introduction to Episode Four
00:14 Understanding Escrows and Impounds
01:45 Escrow Account Analysis Explained
03:03 Proactive Steps to Manage Your Escrow Account
05:58 Handling Negative Escrow Balances
06:27 The Importance of Proper Escrow and Tax Planning
07:37 Dealing with Over-Collected Escrow Funds
08:45 Final Thoughts and Recap

To contact us for a loan discussion, you can text or call us at 817.632.4100 or [email protected]

In episode three of the Borrow Better Way podcast, we into the specifics of doctor home loans, a type of mortgage designed for graduate-level professionals like doctors, dentists, attorneys, and CPAs. The episode covers the advantages of doctor loans, such as minimal or zero down payment options and the exclusion of student debt from qualifying requirements. It also discusses scenarios where doctor loans are beneficial and compares them with conventional loans. Additionally, the host provides advice for using family assistance effectively, whether through gifts for down payments or co-signing. The episode aims to help new graduates and young professionals navigate their first home purchase with an understanding of the best financing options available.

00:00 Introduction to Doctor Loans
00:11 What Are Doctor Loans?
01:04 Benefits of Doctor Loans
02:19 Recommendations for New Graduates
02:57 Loan Options and Terms
03:48 Comparing Doctor Loans to Conventional Loans
04:30 Family Assistance and Co-signing
06:12 Conclusion and Final Thoughts

Are you a realtor wanting to help your clients build their custom home, or are you a homebuilder who wants a direct line to a construction loan outlet, or, if you're wanting to build your dream home and use a home loan to finance it, this episode is for you! Learn the basics of construction loans. As with any financial product, please reach out to my team for a deeper conversation about your specific situation. You can call or text us at 972.999.1900 to setup a call or email us at [email protected]

Matthew Bell

Branch Manager and Senior Loan Officer NMLS 665258

CMG Home Loans NMLS 1820

Want to buy your first rental home? Do you have rental or short-term rentals? Are you a realtor who helps investors? This Episode is for you! We talk though two different strategies for investors who want to nail down the best loan terms. As with any financial product, you should talk with our team about your specific situation so we can advise you. Our email is [email protected] or you can call/text us at 972.999.1900

Matthew Bell, NMLS 665258, CMG Home Loans NMLS 1820