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Property taxes at closing (Texas)

Established Contributor

Property taxes at closing (Texas)

Our lender (NFCU) has estimated 10 months of property taxes due at closing.

We will close at the beginning of Aug. From what I understand, property taxes are paid in TX at year end. So will seller have to credit us for Jan-Aug property taxes at closing? So will NFCU actually ask for us to bring months of property taxes at closing? I’m prepared to do so, just a bit baffled.

I will ask my lender when I talk to them, but thought this group could give me a quick answer.
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Message 1 of 4
Valued Contributor

Re: Property taxes at closing (Texas)

Yes you will have a credit from the seller at COE for months the seller owns the property but you will need to pay. You will get an statement prior to closing from the Escrow Closer detailing the credits due from the seller. That’s the Escrow Closers job and not the Lender. The lender only knows what they need in your Tax acct when everything is done.
Message 2 of 4
Established Contributor

Re: Property taxes at closing (Texas)

Escrow/Title will do the prorations at closing which will offset your impounds and Aggregate Adjustments. You can review this on your Pre-Closing Disclosure. Your Loan Officer should have already explained this to you. 


Best Wishes to you!

Mortgage Banker - Since 1988 offering FHA, VA, USDA, Conventional, Jumbo, Portfolio and NonQM Loan Products. Licensed in AL, AR, AZ, CA, FL, GA, IL, IA, IN, LA, MI, MO, NC, NE, NV, OH, OK, OR, SC, TN, TX, VA and WI.
Message 3 of 4
Established Member

Re: Property taxes at closing (Texas)

I am curious to know what the result of your question was.  I just got my clear to close yesterday with NFCU and have yet to receive my closing disclosure (more than a day later).  My loan processor has really sucked during this whole process and my closing was delayed due to her not sharing that I need a WDIR for a VA loan.  All she advised was a termite inspection was needed.  


If i dont get my closing disclosure by eob, I will have to push my closing back yet another day.  

Message 4 of 4
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