NO. Prepaids do not vary from lender to lender. One trick Lenders use to make their loans appear more attractive is to have a lower amount for prepaids on the Good Faith Estimate (GFE). You don't want any surprises on your first mortgage payment so be careful when selecting a lender. Prepaids are mostly set by the lender and escrow company. They may collect 3-12 months of insurance and 2-4 months of taxes, but this can vary based on your location and situation.