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Mortgage interest proration is the daily interest multiplied by the
number of days from settlement (including the date of settlement) to
the first day of the following month. The daily rate of
interest to be charged by the lender is usually shown on various
forms, such as Regulation Z and RESPA or you can calculate the daily
tax from this site.
Lenders collect enough money at closing to cover
the interest owed from the closing date until the next payment
period. This is called proration of interest. Make sure that you
keep a record of this figure. At the end of the year, the lender
will send you a 1099 form (for your income tax filing) which
indicates the amount of interest you paid for the year.
We also have tax and mortgage interest proration
software which can be downloaded below:
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2.27 MB |
Tax and
mortgage interest proration software |
This software is FREE;
it requires no passcode and is not hindered or crippled in anyway.
We ask that if you like this software,
that you add one of the following links to your website:
Amortization
Software
Generate fixed, variable or
interest-only amortization schedules.
Closing
Software
Streamline preparation and
printing of HUD-1, HUD-1A RESPA Settlement Statements.
Real Estate Closing
Software
will help you manage client information and cut your form preparation
time to a minimum.
 We can have you working
with the software the day it's ordered!
You can download the software from this website or we can e-mail you
the software to get you started immediately. If you
order today, the CD, packaging and our 70+ page manual would arrive in
2-3 days by UPS.
Technical support and updates are FREE
within the first year from the date of purchase. We have a
friendly and courteous staff that can assist you with any technical
support issue that might arise.
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Software
