Escrow waiver is not exactly free. The mortgage companies want to charge a fee.
An example is .25% of a point. I'm waiting to find out what homecoming mortgage
Charges on my $49,200 mortgage.

How do you figure .25% of a point. On my mortgage of $49,000

Your suggstions

It really depends on what you are doing, refinancing or pruchasing and depending on the LTV (loan to value) some lenders will waive the fee completely with a low LTV usually under 60% some 65%. Also, if you have discussed with homecoming mortgage and decided you would pay 1% for a certain rate you might be able to negotiate with them and have them pay for the escrow waiver and raise your rate and .125 or sometimes not at all. If they are charging you a rate with no required percentage from you then you need to argue that they pay for the escrow waiver .25. If it comes off your lenders it is figured at 122.50 which is 49000 X .0025 = 122.50.

[QUOTE=Oneill474]escrow waiver is not exactly free. The mortgage companies want to charge a fee.
An example is .25% of a point. I'm waiting to find out what homecoming mortgage
Charges on my $49,200 mortgage.

How do you figure .25% of a point. On my mortgage of $49,000

Update:

Never mind the mortgage company informed me. There is no charge. So I'm managing my escrow account now. Thanks again