Closing - Beginning or End of the month.
Posted by Tim Bray on
Closing ~ Beginning or End of the month
It is very important to be strategic when writing an offer so that your goals and objectives are defined and met. Work closely with a reputable local lender to determine your strengths and weaknesses as a buyer. Closing at the beginning or end of the month can have financial advantages and disadvantages.
First, you must understand that mortgage interest on your mortgage begins accruing on the date that you close on your property. The majority of mortgages are due on the first day of the month. At the closing table, you will pay (PITA) Principal, Interest, Taxes, and Insurance from the date of closing to the last day of the month. Please note that the majority of this payment goes towards the mortgage…
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