Real Estate Terms

 

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Home Loans Prepaid Closing Costs

Q:
What are Home Loans Prepaid Closing Costs?
 
A:
As opposed to Closing Costs which are one time costs, prepaid costs are advance payments of recurring costs. These would include prepaid interest, prepaid Property Taxes, prepaid Hazard Insurance, prepaid Homeowner’s Dues, and prepaid Mortgage Insurance.
 

 

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