If you select for your lender to pay your property tax and/or home owners insurance, following calculation may take place and amount to be added to your cash to close.
Due Date: November 1st
Delinquent Date: December 19th at 5:00 PM
Period Covered: July – December
Due Date: February 1st
Delinquent Date: April 10th at 5:00 PM
Period Covered: January – June
1st Mortgage Payment Due January 1st
5 Months Collected (1st Installment Paid, 2nd Installment not Paid)
1st Mortgage Payment Due Febuary 1st
6 Months Collected (1st Installment Paid, 2nd Installment not Paid)
1st Mortgage Payment Due March 1st
7 Months Collected (1st Installment Paid, 2nd Installment not paid)
1st Mortgage Payment Due April 1st
7 Months Collected (1st Installment Paid, 2nd Installment not paid)
2 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due May 1st
2 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due June 1st
3 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due July 1st
5 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due August 1st
6 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due September 1st
7 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due October 1st
8 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due November 1st
9 Months Collected (1st and 2nd Installment Paid)
1st Mortgage Payment Due December 1st
10 Months Collected (1st and 2nd Installment Paid)
4 Months Collected (1st Installment Paid, 2nd Installment not Paid)
Loans closing February 1st and after require the 2nd half tax installment to be paid prior to or at closing.
Loans closing November 1st and after require the 1st tax installment to be paid prior to closing.
Information deemed reliable but not guaranteed. Please check with your mortgage advisor and or lender for some lenders have different requirements.