Our loan company has requested we move our closing date from July 2nd to the end of June. Our real estate agent stated it might save us some money in additional interest accrued in the long run. Our due date for the payment will not change. Does anyone know if this is true or is there any reason to not agree to close a few days early?
Can closing on a loan a few days early save money in the long run?
It doesn't technically save you any money on the loan itself. It will save you money on how much you have to bring to closing however as the interest credit is less on a funding at the end of the month than at the beginning.
Reply:Yes, it may make a difference. That is why most companies try to close their loans by the end of the month.
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