Buying A Home
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Home insurance

Do you have to pay a full years premium up front when you buy a house?
I thought everything was rolled into the mortgage payment
TIA
 
I heard it might depend on the mortgage company.
If you had to pay upfront, who did you use for a mortgage company?

 

Re: Home insurance

  • Yes, because the monthly payments you make into your escrow account are for the upcoming year's bill, not the one currently due.

    You will pay now for 2012 in a lump sum, then make payments each month into your escrow so that in January of 2013, the money is in your account to pay the bill. 

    imageimageimage
  • Duplicate--silly nest!

    Crafts for Lily
    My Valentine Bookends (2~13~13, 2~15~09)
    image
  • imagekristinanddan:

    Yes, because the monthly payments you make into your escrow account are for the upcoming year's bill, not the one currently due.

    You will pay now for 2012 in a lump sum, then make payments each month into your escrow so that in January of 2013, the money is in your account to pay the bill. 

    Yep :)  Be prepared that some HOA's will also require the payment upfront.

    Crafts for Lily
    My Valentine Bookends (2~13~13, 2~15~09)
    image
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