IK Financial Metarials
Mortgage Glossary

Mortgage 101 - Interest Adjustment

What is an “Interest Adjustment”?
The amount of interest due between the date your mortgage starts and the date the first mortgage payment is take. Sometimes there is a gap between the closing date of your home purchase and the first payment date on your mortgage.
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🔹 Let's say that the closing date on your new house is April 10th. 
🔹 Your mortgage payments are on the 15th of each month. 
🔹 You have to make an extra payment to make up for these five days; the payment is generally due on your closing date. 
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IK Financial is here to make your closing day smooth and enjoyable. Contact our Mortgage Agents and get professional advice:
Inna Bogdanov 416.268.0004 | Inna@ikfinancial.com
Katerina Markevich 416.388.8153 | Katerina@ikfinancial.com