FHA loans charge 30 days of interest regardless of what day of the month you settle. If you fund a conventional loan within the first 5 days of the month we as lenders can credit back to the 1st day of the month to help lower the closing costs. Hope this is helpful. Is this on a purchase or refinance?
Mortgage interest is paid in arrears. From the day of your settlement you will pay a daily interest charge to the last day of the month with your first payment due on the 1st day of the following month.