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Question so at closing are we to bring 1 years of HOI and property tax? I thought i had this down pack but the more i get closer to closing the more I’m reading and i think I’m mixing things up.. can anyone assist? What is all due at closing ?
You are definitely on the right track. The guideline is laid out in the workbook and the exact formula should be written on your action plan given to you at your initial intake session.
It’s 1 year of insurance and several months of property taxes. The exact amount depends on your situation. Plus obviously hoa fees and buy down if applicable.
If you plan for 12 months of everything you will be at worst prepared and at best over saving with a nice amount left over.
And btw your emd is applied to all of that.
Okay great! Thank you!