Help understanding prepayments in escrow

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I’m trying to understand the pre payment in escrow accounts schedule, home insurance to be specific.

I will be paying 12 months in advance of home insurance, which is pretty standard.

Once I close on the home and pay the 12 months upfront.

Do I not have to pay for home insurance for 12 starting month 13?

Or do I pay for the insurance right away?

Insurance companies (citizens) will allow you to pay monthly or quarterly or yearly if you chose to correct or are they yearly only?

(I did opt to have my taxes and insurance outside of my mortgage, so will be paying them directly)

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Posted: 11 months ago
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