Question by surferboy13131: How many months of taxes and home owners insurance do I have to prepay on an impound account on a home loan?
How many months of taxes and home owners insurance do I have to prepay on an impound account on a home loan? The bank is charging me 4 months of prepaid taxes and an additional 6 months of prepaid taxes and 2 months of prepaid homeowners insurance and 1 year prepaid of homeowners insurance. I will also be paying them in my monthly statement.

Best answer:

Answer by Biggie @ Arbor Mortgage
That sounds about right. It is a formula based on when your taxes & insurance are due. They know what they are doing, don’t worry!

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