hese tables show you what is typically charged at closing, depending on the location of the property and the lender.

Prepaid fees
Lenders want to be sure that you have enough money left over from your down payment and closing costs to pay your bills, so they require you to prepay some of them at closing.

Impound/Escrow accounts
It's in most people's best interest to make as large a down payment as possible. So, if the lender sees that you can't put 20% down, they worry that you have so little cash on hand that you won't be able to pay your first few month's bills, much less groceries.

If so, the lender can set up a reserve account and require you to deposit enough money to cover the first few months of mortgage insurance, hazard insurance and as much as 8 months of property taxes. Your bills are then paid from this account.