Mortgages

What are daily interest charges?

Daily interest charges show the charge due at settlement for any daily interest that will accrue on your loan for the period between the date of settlement and the first day of the period covered by the first scheduled mortgage payment. (Note that this may not be the first day of the month.) This amount will be listed in Box 10 of your Good Faith Estimate (GFE) (and on Line 901 of your settlement statement) and may change between your GFE and closing.

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