MIAMI CAPITAL Lending LLC (MCL) is pleased to announce a new benefit for clients: no-cost escrow waivers on conventional loans with a loan-to-value (LTV) ratio of up to 97%. This exciting addition allows borrowers to take control of their property tax and homeowners insurance payments without the typical escrow fee, providing more flexibility and financial control from the start of their loan.
What’s Included with No-Cost Escrow Waivers?
Through this offering, MCL clients with conventional loans can now waive the escrow requirements typically used to manage property taxes and homeowners insurance. Traditionally, lenders charge fees to remove escrow accounts, but MCL clients can enjoy this flexibility at no additional cost, enhancing their overall mortgage experience and putting them in charge of their payments.
First-Time Homebuyer Requirements
To qualify for this no-cost escrow waiver, first-time homebuyers must have a middle credit score of at least 680. With this requirement met, first-time homeowners can select the no-escrow option and enjoy added financial independence with an LTV of up to 97%. This high LTV ratio allows clients to maximize their borrowing power, making homeownership more accessible.
What This Means for MCL Clients
This initiative highlights MCL’s commitment to providing affordable, flexible lending options for borrowers. For first-time buyers, the opportunity to eliminate escrow costs and enjoy a higher LTV ratio means greater accessibility to homeownership. By waiving escrow requirements, MCL enables clients to allocate their resources based on their unique financial needs and priorities.
The MCL Advantage
With over 30 years of experience in business lending, MIAMI CAPITAL Lending LLC consistently delivers client-focused solutions that align with evolving financial landscapes. This new no-cost escrow waiver option exemplifies MCL’s dedication to helping clients reach their homeownership goals in a cost-effective and manageable way.
To learn more about qualifying for this no-cost escrow waiver on conventional loans with a 97% LTV, contact MCL today. Let MIAMI CAPITAL Lending LLC guide you through a mortgage experience tailored to your financial needs and goals.
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