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    1805's Avatar
    1805 Posts: 3, Reputation: 1
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    #1

    Nov 22, 2008, 06:26 PM
    First day payment
    I'am almost ready to do my second closing on my new home loan construction.To get the greastest benefit from this I'am told I must make the first payment on the loan the day it is activated. On the day the lender begins to charge interest on the money that I'am borrowing.How do I find out exactly when that day is?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Nov 22, 2008, 07:09 PM

    1. ask the lender to completely explain the terms of the loan and its payment

    2. read completely the terms of the loan in the paper work they provide you.
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