Can you make p & i loans wherein I would prepay the taxes and insurance?

The majority of loans they are fully amortized principal and interest loans. And impound account to manage taxes and insurance is mandatory on government loans and optional an agency loans. There is a small premium charge for not having an impound account. I most often recommend to keep one for convenience. If your lender set you up an escrow/impound account to manage your taxes and insurance you are pre-collecting to pay them but you're not pre paying them directly to the county. I'm not sure if this is what you meant by your question but feel free to reach out to discuss live. 888-843-5525

Sure, you are allowed to have a mortgage where you pay the principle and interest separate from the taxes & insurance. Generally lenders will charge an added fee to that either in the form of cost or in interest rate. The impound account lenders use to pay the taxes and insurance does not cost you any extra and insures the tax & insurance bills are paid timely, but of course you can choose what fits you best. Hope that helps. Aundrea 702-326-7866

When taxes and insurance are not included in the mortgage payment (escrowed) you are responsible for paying them separately when due. As mentioned already, there is a small additional cost built into the loan because that makes the loan slightly more risky to the lender/investor. Normally that is only allowed when your downpayment is 20%

On conventional loans, there is an option to not have your taxes and insurance impounded or added to your payment.. but typically, lenders charge a slightly higher interest rate for this option. It's usually best to have it included into your payment.. Also, certain loan products such as FHA do not allow you to pay your taxes and insurance outside of the payment.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347