Are condo/co-op fees or homeowners’ association dues included in my monthly mortgage payment?
Usually not. Condo/co-op fees or homeowners’ association dues are usually paid directly to the homeowners’ association (HOA) and are not included in the payment you make to your mortgage servicer. None Condominiums, co-ops, and some neighborhoods may ...
Who should I expect to see at my mortgage closing?
If you’re buying a home, you should expect to see the following people at closing: You and any other co-borrowers The seller of the property or their agent Your real estate agent and the seller's real estate agent. Real estate ...
What should I do if I get a tax bill from the city or county saying that my mortgage servicer did not pay my taxes?
Send a notice of error to your servicer and contact your tax authority and insurance carrier as soon as possible. None If your mortgage servicer did not pay your taxes, you should send a copy of the bill along with ...
Why did my monthly mortgage payment go up or change?
Several things can cause your mortgage payment to change. Check your mortgage statement or contact your servicer and ask them to explain. None There are several reasons why your monthly mortgage payment may have changed. Some examples include: You ...
Is there a limit on how much my mortgage lender can make me pay into an escrow account for interest and taxes?
Yes, if your loan is a federally related mortgage loan under the Real Estate Settlement Procedures Act (RESPA), there is a limit on how much the lender can make you pay into an escrow account. None While an escrow account ...
What documents should I receive before closing on a mortgage loan?
Before closing on a mortgage, you can expect to receive documents required by state and federal law and contractual documents. None You can expect to receive various types of documents: Documents required by federal law These documents inform you of ...
What is a mortgage "closing?" What happens at the closing?
The “closing” is the last step in buying and financing a home. The "closing,” also called “settlement,” is when you and all the other parties in a mortgage loan transaction sign the necessary documents. After signing these documents, you become ...
What is an initial escrow deposit?
An initial escrow deposit is the amount that you will pay at closing to start your escrow account, if required by your lender. None This initial amount may be different from what you pay monthly to maintain the escrow account. ...
What required mortgage closing services can I shop for?
To figure out which mortgage closing services you can shop for, you will need your Loan Estimate. You can shop for all of the services listed in section C of page 2 of your Loan Estimate. None See an interactive ...