If a reverse mortgage is paid off on the 5th is interest paid for the entire month or just 5 days?

My name is Robert Griffin I am a reverse mortgage expert in Alpine Ut. Please feel free to call me and I will be able to answer your question better. 801-999-8796 cell.

All FHA loans charge for the full months interest on the first day of the month.. if you pay off your loan within the month, you do not get any of that prepaid interest back.. this is not the case with conventional loan products. For conventional, your interest would be calculated to the day you pay it off, but not the same with FHA.. FHA within the past month changed the rules regarding this but it's only for loans moving forward.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com