What component is usually NOT included in upfront costs for obtaining a mortgage?

Future property taxes are typically not included in the upfront costs for obtaining a mortgage. Upfront costs generally cover immediate expenses needed to finalize the mortgage and purchase the property. These costs often include inspection fees, which are paid to have the property evaluated for any issues; loan processing fees, which cover the lender's expenses in managing the application; and origination fees, which are charged by the lender for processing the loan.

In contrast, future property taxes are considered ongoing expenses that homeowners will incur after the purchase has been finalized. These taxes are assessed periodically based on the value of the property and are not part of the initial costs associated with securing the mortgage. Understanding this distinction is crucial for prospective buyers as they calculate the total costs involved in purchasing a home.