Quick Check on this hard money payoff quote

[Account Closed]

I borrowed $141k hard money at 7% interest-only and escrowed ~$10k with them for repair costs (not sure if that matters). My monthly payment on the hard money is $822.

I'm now trying to refinance into a conventional mortgage and the payoff quote they provided to the new lender is $142,233. Does this sound right? I would have thought it wouldn't be more than the initial loan amount plus about half a month's interest since I last made a payment. Whereas this is about 1.5 months of interest on top of the loan amount.

I'm planning to contact the lender to get a breakdown, but they have been very slow to get back to me and every day I delay signing this closing disclosure pushes out the 3-day waiting period on being able to close on my refi, so I'm hoping someone on BP can clarify for me more quickly so I can move forward.

Thanks!

[Kyle J.]

@Account Closed Is there any sort of prepayment penalty or guaranteed minimum number of months interest with the loan you're paying off? For example, if the loan had guaranteed the HML a minimum of 6 months interest, and you're refinancing at month 5, that could explain the extra month worth of interest in the payoff quote. Other than that, unless the expected closing is another month out (which would also explain it but it doesn't sound like it from your description), I'm not sure. Maybe it's an error. Just call the HML and ask for a breakdown.