Pre-Paid Items
Last modified June 10, 2023Pre-paid items are those items which the lender requires are paid in advance, including interest from the date of closing until the last day of the month of closing, mortgage insurance premiums, the first-year hazard insurance premium and the first-year flood insurance premium, if required. In addition, although not generally thought of as a prepaid item, CDD assessments for a community are often required to be pre-paid at this time.
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