Borrowers have questions, HFB has answers.
When you can drop your PMI insurance depends on when your loan originated, your current loan-to-value ratio, and in some cases what type of loan you have, such as THDA, Fannie Mae, conventional, etc. Please direct any questions to your loan officer at (865) 544-3860.
Please direct all calls through our receptionist at (865) 544-3860, and you will be connected with the person or persons who can best help you. At HFB, we always look forward to helping you find the answers you need.
In most instances, yes—you can set up your loan payment to be drafted from a checking or savings account you have with HFB or another institution. If you’d like to ask about drafting from an existing HFB account, please contact us at (865) 544-3860, or call (865) 546-0910 if you would like to ask about drafting from an account you have with another financial institution.
The escrow analysis is made up of three parts:
- Projection for the coming year:
This projection will estimate, based on the last amounts paid for each escrow item, how much we need to collect each month to be able to pay these escrow items. The projection will also show whether your account has a shortage or an overage. You will typically have a shortage if we have paid out higher amounts than previously collected (shown on the projection copy).
- Account History:
The account history will show the detailed history of the actual activity in the escrow account (payments made to escrow and payments made from the escrow account).
- Projection Copy:
The projection copy is an exact duplicate of the escrow analysis projection that was sent the previous year. This copy is to be used to compare the amounts collected and paid or estimated from the prior year to those that are to be collected for the next year, shown on the current projection.