JR <jriker1[at]yahoo.com> wrote:

- quote -

Mortgage payments are generally due on the first of the
month. Mortgages run for a whole number of months. Closings
can occur any time during a month. I suspect that amount
represents the interest between the closing date and the
first of the next month.

Seth

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I am looking to buy a new home and as part of the payment
spreadsheet is a value called Interest Proration. Seems to
fluctuate greatly based on how much I put down however am
unsure of what it is or how it's calculated. Any help would
be appreciated.

Thanks.

JR

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >