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Updated almost 4 years ago on .

Dan M.'s profile image
Dan M.'s profile image
Dan M.
  • Investor
  • from Phoenixville, PA
  • Member since May 14, 2017
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12
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1
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Dan M.'s profile image
Dan M.'s profile image
Dan M.
  • Investor
  • from Phoenixville, PA
  • Member since May 14, 2017
Connect
Dan M.
  • Investor
  • Phoenixville, PA
1
Votes |
12
Posts
Real Estate News & Current Events

Interest Reserves Charge on Settlement Statement

Dan M.
  • Investor
  • Phoenixville, PA
Posted

Hi, I am using Lending One to close on a 4 unit in Berks County, PA. Closing is in a few days and I just received the settlement sheet from title and noticed a charge I haven't come across before. There is a $4325.82 Interest Reserve charge. I'm wondering what these funds are being taken for and why I'm bringing these extra funds to closing. Any help would be greatly appreciated!

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