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Prepaids are items to be paid by the consumer in advance of the first scheduled payment of the loan. Prepaids are:

• Homeowner’s Insurance Premium
• Mortgage Insurance Premium
• Prepaid Interest
• Property Taxes

Homeowner’s Insurance Premium - Enter the coverage period beside the amount to be paid by the consumer.

Mortgage Insurance Premium - Enter the coverage period beside the amount to be paid by the consumer.

Prepaid Interest - Enter the daily rate & applicable time period and the calculated amount in the applicable column.

Property Taxes - Enter coverage period beside the amount to be paid by the consumer. 

 

 

 

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