Related FAQs
Learn what FHA stands for, how FHA loans work, and why theyâre a great option for first-time buyers with lower credit scores and smaller down payments. Read more
Learn what FHA stands for, how FHA loans work, and why theyâre a great option for first-time buyers with lower credit scores and smaller down payments. 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
A home appraisal typically takes 20-60 minutes. Appraisers average 10 minutes per 1,000 square feet, with larger or complex homes taking more time overall. Read more
A home appraisal typically takes 20-60 minutes. Appraisers average 10 minutes per 1,000 square feet, with larger or complex homes taking more time overall. Read more