Tax Impounds Increase Closing Costs per Calendar A buyer needs to know how the calendar will increase closing costs because of tax impounds. When I quote closing costs for a client, I'm not only including lending costs, but also escrow/title fees and prepaid insurance, taxes and interest. If I quote less than that, a buyer will not have a realistic idea of what funds it will take to close. The number of tax months collected in escrow for impounds is standardized per an established calendar for lenders. This allows them to collect enough taxes upfront for the … (0 comments)
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