Related FAQs
Find out how appraisal transfer applies when getting a new mortgage, who orders the appraisal, and what lenders consider when reusing a recent appraisal report. Read more
Find out how appraisal transfer applies when getting a new mortgage, who orders the appraisal, and what lenders consider when reusing a recent appraisal report. Read more
What is a prepayment penalty? Learn why some lenders charge fees for paying a mortgage early and how Better Mortgage lets you avoid these penalties entirely. Read more
What is a prepayment penalty? Learn why some lenders charge fees for paying a mortgage early and how Better Mortgage lets you avoid these penalties entirely. 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