What started out as a great experience turned into not a great experience, about a year after closing on our home we found out PrimeLine Capitol did not do the calculations correctly for escrow and because of this our mortgage increased $200/mo! (Taxes/insurance cost did not change). $200 is excessive and I do not understand how they messed the numbers up that bad. Really not acceptable at all.
Reply from the business:
Dec 16, 2022Lindsay, I’m glad you had a great experience with your financing with us and I’m sorry you are having this experience with seeing an increase in the escrow portion of your payments. We’re happy to dive in and find out what happened, but unfortunately, lenders don’t have control over the escrows. We calculate them based off what your insurance company provides us for your annual homeowner’s insurance policy and based off what the county gives us for “estimated” property taxes and divide it by 12. We would love the opportunity to speak with you to review the numbers and explain how escrows were calculated and why you are seeing a change. It would be very unusual to see no change in county taxes or homeowners insurance and we suspect this is where you are seeing the increase. Again, we would love a chance to talk with you one-on-one to see how we can help!