Prepaid Items are costs that are associated with the maintenance of the borrower’s loan and normal property maintenance, regular recurring costs that are paid monthly or annually. These costs include normal interest due on the loan, property taxes that are paid twice a year or monthly, and insurance.
About the Author: Viral "Vic" Joshi
Viral (pronounced like "virile") "Vic" Joshi is an independent California Home loan expert and licensed real estate agent who has been guiding home buyers through the mortgage loan process for over 20 years. Vic is an agent with the Straight Deal Mortgage, offering preferred access to virtually any mortgage loan product available. He is a proud San Francisco Bay Area native, a certified Rescue Scuba Diver and a loyal Warriors fan. Learn more about Vic here or connect on LinkedIn.