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Updated over 3 years ago on . Most recent reply

Kevin Kim's profile image
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Kevin Kim
  • Member since Apr 11, 2020
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61
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11
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Kevin Kim's profile image
Kevin Kim's profile image
Kevin Kim
  • Member since Apr 11, 2020
Connect
Kevin Kim
11
Votes |
61
Posts
Buying & Selling Real Estate

Closing Cost for prepaid Property Tax (10 months)

Kevin Kim
Posted

Hello 

I have closed my first investment property last Sep. Noticed my loan lender closing cost details shows they charged 10Months Property tax prepaid. My question is why do i have to pay 10Months property tax in advance? My each month mortgage payment is already included Property tax and Insurance. I am asking lender(better.com) but haven't heard any answer yet.

Appreciate any help.

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