As a buyer, can I save on costs by closing late in the month?

 Lenders usually collect interest for the current month at closing. If you close on the fifth day of the month, you will owe the lender 25 days of interest at closing. If you close on the 25th day of the month, the lender will collect five days of interest when you close. Closing at the end of the month can reduce your closing costs considerably if your loan balance and interest rate are high.

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