Closing costs questions

DBtoOC

DBtoOC

Member
I'm closing on a new construction home in August.  I'm choosing to impound my taxes & insurance with my lender and the Closing Disclosure is showing the following:  Property Taxes of $1,250/month for 8 months. 

Is this normal?  Why am I paying property taxes for 8 months into my escrow balance if the house isn't mine yet?  Does this amount typically get refunded back to me?
 
DBtoOC said:
I'm closing on a new construction home in August.  I'm choosing to impound my taxes & insurance with my lender and the Closing Disclosure is showing the following:  Property Taxes of $1,250/month for 8 months. 

Is this normal?  Why am I paying property taxes for 8 months into my escrow balance if the house isn't mine yet?  Does this amount typically get refunded back to me?
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You would pay the money at closing. Normally when you impound taxes and insurance they make you have a cushion in there, probably for risk mitigation.
 
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