After that, your insurance and taxes are usually part of your monthly payment.
Get quotes from more than one insurer before you pick one. Your lender needs proof of the policy before closing.
Do I pay the first year of homeowners insurance at closing?
Usually, yes. The first year is paid at or before closing, and a little more is set aside so the lender can pay next year's bill for you.
More questions
- What is the final walk-through on a new home?It is your last look at the home before closing. You check that everything works and point out anything that needs fixing.Read the answer
- Do I need my own lawyer to close on a house in Georgia?Usually not. In Georgia, a closing attorney runs the closing for the sale. You can hire your own if you want one.Read the answer
- How do I set up power and water in a brand new home?Ask the builder which companies serve the home. Then set up power, water and internet to start on your closing day.Read the answer
- When can I move in after closing on a new home?Usually the same day. With a new home, you often get the keys at closing or once the loan has funded.Read the answer