W****n
发帖数: 1373 | 1 our closing date is June 25th. one broker in his GFE asks us to pay 4 months
' property tax at closing while the other broker lists two months' in GFE.
usually, how many months of property tax are required at closing?
in addition, one broker lists in 903 Hazard insurance policy of $1200 and $
100 for monthly hazard insurance, while the other broker has no cost listed
under 903 but asks us to pay two months' of hazard insurance of $120 in line
1001. my question is who is going to look for hazard | d****n
发帖数: 2507 | 2 property tax是预交，通常是2~3个月的样子，然后每个月还要交escrow（用来
支付property tax, hazard insurance）。不同的银行要求escrow的最低数额
可能有点不一样。不过这些预交的东西没什么可怕的，因为它的原则是多还少补。
hazard insurance也是预交，broker多半是写一个估计值。你可以自己找保险代理，
最好和你汽车的保险在一块，这样，汽车保险和房子保险都有一些折扣。
months
listed
line
720.
【在 W****n 的大作中提到】
: our closing date is June 25th. one broker in his GFE asks us to pay 4 months
: ' property tax at closing while the other broker lists two months' in GFE.
: usually, how many months of property tax are required at closing?
: in addition, one broker lists in 903 Hazard insurance policy of $1200 and $
: 100 for monthly hazard insurance, while the other broker has no cost listed
: under 903 but asks us to pay two months' of hazard insurance of $120 in line
: 1001. my question is who is going to look for hazard
| W****n
发帖数: 1373 | 3 Thanks. just we have to put more than 20% downpayment in order to have the
mortgage amount no more than 417K, so we don't want pay too much in prepared
stuff...
【在 d****n 的大作中提到】
: property tax是预交，通常是2~3个月的样子，然后每个月还要交escrow（用来
: 支付property tax, hazard insurance）。不同的银行要求escrow的最低数额
: 可能有点不一样。不过这些预交的东西没什么可怕的，因为它的原则是多还少补。
: hazard insurance也是预交，broker多半是写一个估计值。你可以自己找保险代理，
: 最好和你汽车的保险在一块，这样，汽车保险和房子保险都有一些折扣。
:
: months
: listed
: line
: 720.
| d****n
发帖数: 2507 | 4 哇~~~ 有钱人呀。。。
prepared
【在 W****n 的大作中提到】
: Thanks. just we have to put more than 20% downpayment in order to have the
: mortgage amount no more than 417K, so we don't want pay too much in prepared
: stuff...
| s*******1
发帖数: 111 | 5 Both are estimation and both are going to your escrow account. It really
depend on when is the time for paying the property tax to the city. I am not
sure the state law but in some states, the property tax are prepaid, which
means you will need to reimburse the tax paid by previous owner as he/she
had paid portion of tax for you in last year's tax bill. So you have to
prepare one full year of tax anyway in the closing table. For the amount in
your escrow account, it depends on the lender's formu
【在 W****n 的大作中提到】
: our closing date is June 25th. one broker in his GFE asks us to pay 4 months
: ' property tax at closing while the other broker lists two months' in GFE.
: usually, how many months of property tax are required at closing?
: in addition, one broker lists in 903 Hazard insurance policy of $1200 and $
: 100 for monthly hazard insurance, while the other broker has no cost listed
: under 903 but asks us to pay two months' of hazard insurance of $120 in line
: 1001. my question is who is going to look for hazard
| s*****g
发帖数: 3527 | 6 BSO
prepared
【在 W****n 的大作中提到】
: Thanks. just we have to put more than 20% downpayment in order to have the
: mortgage amount no more than 417K, so we don't want pay too much in prepared
: stuff...
| d****n
发帖数: 2507 | 7 haha...
【在 s*****g 的大作中提到】
: BSO
:
: prepared
| W****n
发帖数: 1373 | 8 definitely not BSO. After closing, we would not have money for any furniture
for a long while...:(
another question, my broker says the attorney charges title search fee and
1101A Settlement and Closing fee. is he telling the truth? I need talk with
my attorney, he said he will charge a flat fee which is way lower than what
the broker listed. | W****n
发帖数: 1373 | 9 Thanks for the information. Since one broker only asks me to prepare two
month property tax, I assume it is ok in my state not to prepay four month
tax as asked by the other broker...
not
which
in
【在 s*******1 的大作中提到】
: Both are estimation and both are going to your escrow account. It really
: depend on when is the time for paying the property tax to the city. I am not
: sure the state law but in some states, the property tax are prepaid, which
: means you will need to reimburse the tax paid by previous owner as he/she
: had paid portion of tax for you in last year's tax bill. So you have to
: prepare one full year of tax anyway in the closing table. For the amount in
: your escrow account, it depends on the lender's formu
| s*****g
发帖数: 3527 | 10 For purchasing, I think it is the closing agent (my state doesn't required
the attorney to present for house purchasing) do the title search and title
insurance (1108) and charge it to the seller, no buyer. At least it is what
happen in my state. No sure about your state though.
Of course, if you are doing refi, then it is your responsible for paying
item 1108.
BTW, here we do have some fee charged in 1101, which is about $100 or less
in refi and $500 for new purchasing.
furniture
with
what
【在 W****n 的大作中提到】
: definitely not BSO. After closing, we would not have money for any furniture
: for a long while...:(
: another question, my broker says the attorney charges title search fee and
: 1101A Settlement and Closing fee. is he telling the truth? I need talk with
: my attorney, he said he will charge a flat fee which is way lower than what
: the broker listed.
| W****n
发帖数: 1373 | 11 Asked my attorney yesterday and he said he already asked someone to do the
title insurance and title search... and I will have to pay for it. It looks
like the fee for this service has a fixed rate. at NJ, title insurance, $3.
25 for each 1K of the amount 500k and $2 for each 1k for the amount over
500k.
we didn't know much when we brought our first house, but this time learned a
lot and still learning...thanks to internet and clubs like this...
title
what
【在 s*****g 的大作中提到】
: For purchasing, I think it is the closing agent (my state doesn't required
: the attorney to present for house purchasing) do the title search and title
: insurance (1108) and charge it to the seller, no buyer. At least it is what
: happen in my state. No sure about your state though.
: Of course, if you are doing refi, then it is your responsible for paying
: item 1108.
: BTW, here we do have some fee charged in 1101, which is about $100 or less
: in refi and $500 for new purchasing.
:
: furniture
|
|
