I am looking to buy a new home and as part of the payment spreadsheet is a value called Interest Proration. Seems to fluctuate greatly based on how much I put down however am unsure of what it is or how it's calculated. Any help would be appreciated. Thanks.
JR
Mortgage payments are generally due on the first of the month. Mortgages run for a whole number of months. Closings can occur any time during a month. I suspect that amount represents the interest between the closing date and the first of the next month. Seth
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