What is the best day of the month to close your mortgage?

It depends on whether your refinancing or purchasing.. on a refi, (especially FHA) you should close as close to the end of the month as possible.. if your purchasing and the seller is paying your closing costs, you should close as close to the beginning to the month as possible.. Daily interest is collected from the day you close to the last day of the month, and it's added to your closing costs.. if you close on the 5th of the month, your lender collects 25 days worth of interest and add that to the closing costs of your loan.. Your payment wont be due until the first of the following month, or 55 days after closing.. 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

Their really is no best time, once you are cleared to close any time is great. If you want to pay less interest per diem close towards the end of the month if u are refinancing make sure you close at least 4 business days before the end of the month so your loan funds on time.