REALTOR | Mortgage Broker
Keller Williams Realty | 360 Lending Group
This could of course depend on the terms of your loan.
You can typically call your lender...tell them what day you will close and they can give
you payoff amount.
Remember how you got that "free" month when you got the loan. Well it's not really free.
Typically loans are set up where you have the money and pay the interest for use of the money.
So if you typically pay 1st of month, that is last month's interest.
If you close on 25th of the month, then you owe the outstanding loan balance AND 25 days of interest
for which you had use of the money.
Hope that helps.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
You will only pay for the days you owned the property
Minnesota Real Estate
C: 612 396-0692
I hope this helps answer your question.