Related FAQs
The key requirement for homeowners insurance is that it covers the propertyâs replacement cost. Learn more about deductible requirements here.
The key requirement for homeowners insurance is that it covers the propertyâs replacement cost. Learn more about deductible requirements here.
A first mortgage lien, also known as a primary lien, is the primary legal claim your lender has on your home. Learn how it works & what happens if you default. Read more
A first mortgage lien, also known as a primary lien, is the primary legal claim your lender has on your home. Learn how it works & what happens if you default. 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