Closing question?
Is it better to close at the beginning or end of the month..and why?
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Closing question?
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Re: Closing question?
Closing at the end of the month is cheaper. You prepay your interest and principle for the remainder of the month at closing, so there is less to pay the closer to the end of the month.
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Re: Closing question?
Posted by coxmandi
Closing at the end of the month is cheaper. You prepay your interest and principle for the remainder of the month at closing, so there is less to pay the closer to the end of the month.
Correct! Best time to close!
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Re: Closing question?
I was also told not to close on a Monday. I thinkthey have to put the money in starting friday and you must pay interest for the weekend. I hope that makes sense and that it is right
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Re: Closing question?
Also if you close after the 15th you won't have to pay the 1st note until 2 months. We closed Feb 15 and didn't pay our 1st note until April 1st.
