---

Fees

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
MortgageJK Guest	Posted: Wed Dec 09, 2009 9:06 am    Post subject: Fees Like 0 Dislike 0 Do I need to pay any interest to my current lender if for example if I close 28th of the month? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Dec 09, 2009 10:35 pm    Post subject: Like 0 Dislike 0 Hi MortgageJK! Welcome to forums! It's a good idea to close the mortgage at the end of the month. In that case, you will start paying the interest after the new month begins. Contrary to this, if you close your loan in the middle of the month, then you may have to give the 15 days of interest at the closing. Sussane
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Fri Dec 11, 2009 10:17 am    Post subject: Like 0 Dislike 0 if you close on the 28th you will pay interest for that day, the 29th, 30th, and 31st if it exists. your first monthly installment of principal and interest would be due on the first day of the month - not immediately but after the immediate next month. so december 28 closing means first payment due on february 1. that february payment would include all the interest that the lender earned during the month of january. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0