Best Date to Close?

[TimtheGuy]

If you are a renter or selling a house with a FHA loan then the end of the month. Otherwise it does not really matter when you close. "There is no free lunch" as far as closing early in the month and "skipping" a payment as pre-paid interest will just be that much more. If you have a mortgage on a property that you are selling closing at the end of the month for less prepaids won't do a thing because you will just have more interest due on your current home, increasing that payoff and reducing your net proceeds.

[kcam213]

I know that there is something about taxes that depends on when you close with new build.

My LO told me about how she pushed hard to close her house within 30 days of finding it because it made a difference in her taxes.

Something about taxes being assessed on last year's value which was raw land... in her case, her home was a spec home and if she did not close by the end of this period her taxes would have been quite a bit higher.