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Gerald-Esquire, Lawyer
Category: Real Estate Law
Satisfied Customers: 4189
Experience:  30 years of experience.
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Someone I know is buying this house. at the last minute they

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someone I know is buying this house. at the last minute they came up with the knowledge that they would have to pay the first year ahead of time and the property insurance for a year ahead of time. is this normal? I never heard of this. isn't this usually included in the monthly mortgage payment?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: wisconsin
JA: Has any paperwork been filed?
Customer: yes, the loan was approved thru VA loan
JA: Anything else you want the lawyer to know before I connect you?
Customer: that's the only question I have for the moment

Thank you for using Just Answer. Please bear with me while I review your question. I will respond fully shortly. Thank you for your patience.


Thank you for your patience and thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow-up questions you have.

I am an attorney with 30 years of experience; I hope to provide you information that will help you in resolving your question.

Taxes are prorated for the year that you are in (looking backward) and then are included in the escrow portion of the mortgage payment. Insurance is paid up front for the year that you are in and then included also in the escrow portion of the mortgage payment.

So yes you pay up front for the year that you are in and ALSO include a portion for the next year in the mortgage payment.

So what your freind is being told is correct.

The mortgage payment will include going forward the Principle Interest Taxes and insurance.

I hope the information I provide is useful to you. I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow-up questions, feel free to ask.

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Good luck.

Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.

Kind regards,


Customer: replied 1 month ago.
it should not be for the whole year , but for what is left in the year, right?

Yes. That is correct. Both are prorated to the next due date.

Customer: replied 1 month ago.
Answered question as much as I can understand real estate. Thank you
Customer: replied 1 month ago.
done. thank you


Thank you. If you have any further questions please let me know.

Kind regards,


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