Interest is accrued in between the closing date and the last day of that calendar month. This amount is added to the closing costs for your loan rather than making your first monthly payment larger in efforts to absorb the extra that would be due.
Why do I pay pre-paid interest?
By admin|2015-11-24T00:58:30+00:00November 24th, 2015|Comments Off on Why do I pay pre-paid interest?
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