When you are at the closing of a real estate transaction, you may hear the term “prepaid interest.” Here’s what it means: Prepaid interest charges are charges due at closing for any daily interest that accrues on your loan between the date you close on your mortgage loan and the period covered by your firstContinue reading “What Is Prepaid Interest”
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What Is Prepaid Interest?
When you are at the closing of a real estate transaction, you may hear the term “prepaid interest.” Here is what it means: prepaid interest charges are charged at closing for any daily interest that accrues on your loan between the date you close your mortgage loan and the period covered by your first monthlyContinue reading “What Is Prepaid Interest?”
