When you’re buying a house, you have one date in mind: Closing day, the day you get your keys and finally own your new home.
Closing day is a big day, and that’s why it’s important that you choose the right date. Does it matter when you close? It does!
A great article from TheMortgageReports.com outlines why you may want to choose one closing date over another. For example, if you want to pay less at closing, choose a date late in the month. You’ll pay less in interest as part of your closing costs. But, if you want to have more cash flow in advance of your first mortgage payment, close early in the month.
See? Timing matters.
You’ll also want to consider how long your lender will need to prepare and process your loan application, a labor-intensive process that takes a lot of time. Build enough buffer time into your schedule so that unexpected issues or problems can be resolved before closing.
What else should you consider when setting your closing date? Check out the whole article here.
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