3% Down Payment With No Escrow Account Required

Mortgage Loan Escrow Waiver: Most lenders require at least a 20% down payment before you can waive an escrow account. At Texas Premier Mortgage, we now offer the ability to waive escrow with as little as 3% down — giving you more flexibility and control over your mortgage.

What Is an Escrow Account?

An escrow account is typically required by mortgage lenders to collect and hold funds for property taxes and homeowners insurance. These payments are then made on your behalf by the lender each year. Most buyers are required to maintain an escrow account when they put down less than 20% on a home.

Benefits of Waiving Escrows

If you qualify, waiving the escrow requirement allows you to manage your own property taxes and insurance. This means:

  • ✅ Lower monthly mortgage payment (escrow not included)

  • ✅ Direct control over when and how taxes and insurance are paid

  • ✅ No need to prepay large amounts into an escrow account at closing

Now Available with Just 3% Down

Traditionally, lenders required a minimum 20% down payment to waive escrows. With Texas Premier Mortgage we offer escrow waivers with only a 3% down payment, provided you meet standard credit and underwriting guidelines.

This makes it easier than ever for:

  • First-time homebuyers who want lower upfront costs

  • Savvy buyers who prefer to manage their own tax and insurance payments

  • Anyone purchasing a primary residence with strong credit

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Program Requirements

To qualify for the 3% down escrow waiver, buyers must meet the following criteria:

  • Primary residence purchase only

  • Minimum Credit Score 620

  • Standard income, employment, and asset documentation

  • Minimum 3% down payment

  • Willing to pay property taxes and insurance directly

Get Started Today

If you’re interested in a 3% down payment loan with no escrow account, let’s talk. Our team at Texas Premier Mortgage is ready to guide you through your options, help you compare scenarios, and show you how this could reduce your monthly mortgage payment.