1st time going through the mortgage closing for my 4PLEX

[Vibhu Arya]

Just now signed the closing docs and the funding has to happen on Monday. I want it to close on Tuesday or Wednesday though. Is it possible for me to hold the funding on Monday instead do it on Tuesday? OR if we fund on Monday - the title company is saying they can hold the disbursement & closing till Tuesday - is it possible?

I do not want immediate closing on Monday when we do funding as it will help shift my 1st payment due by a month. 

[Wayne Brooks]

@Vibhu Arya You didn’t comprehend what I said.....

—If you do the way it is now, you have no payment at all until Nov 1, since you are closing on the last day of the month...which will include the interest due for Oct.  (Mortgage/interest payments are paid in arrears at the end of the month. 

—If you delay it for couple of days so that your first payment is Dec 1st (interest for the month of Nov)....you will have to prepay the interest for Oct AT THE CLOSING, in advance. 

Hence no advantage to you....you will end up making the payment that would be due on Nov 1 anyway, except as part of your closing, one month earlier. 

In other words.....let it go.