Related FAQs
You can pay for your homeownerâs insurance (HOI) policy either up front or at closing. In both cases, youâll need to pay the first yearâs premium. Read more
You can pay for your homeownerâs insurance (HOI) policy either up front or at closing. In both cases, youâll need to pay the first yearâs premium. Read more
Learn how mortgage lenders evaluate your credit and which credit score is used for mortgage applications, including details on co-borrowers and credit checks. Read more
Learn how mortgage lenders evaluate your credit and which credit score is used for mortgage applications, including details on co-borrowers and credit checks. Read more
Prepaid costs are payments made at closing for upcoming line items of your new home loan. They're called "prepaid" costs because you're paying for them before they are technically due. The most common kinds of prepaid costs are homeowners insurance, property taxes, and mortgage interest. These are paid into an escrow account to ensure that you have money to pay your bills when they become due. Read more
Prepaid costs are payments made at closing for upcoming line items of your new home loan. They're called "prepaid" costs because you're paying for them before they are technically due. The most common kinds of prepaid costs are homeowners insurance, property taxes, and mortgage interest. These are paid into an escrow account to ensure that you have money to pay your bills when they become due. Read more