When is the Best Time of the month to Close?

I have heard the best time of the month to close is the last few days of the month. This statement is due to the fact your closing costs shall be decreased as you get closer to the end of the month. The interest is always in arrears for your house payment, and the interest will be collected from day of closing to end of month. You get a month reprieve for your first house payment. It amounts to bringing a bit more to closing, or having a payment a bit sooner. Closing at the end of the month is quite busy not only with the title company but lenders too. This is a busy time of month, and when many buyers close all in the last few days of the month, means the closers are not only closing buyers and sellers, but also have to balance the figures with the lender. Often times these end of month closings are late and sometimes delayed due to everyone (lenders and title companies) being overbooked. Fridays are good days to close! With recent changes in the contract with possession and the need for post-closing documentation, Friday has become a popular day for closing. Buyers are able to complete the closing, take the rest of the day off, and move into their new home after closing & funding. I like to pick Tuesday, Wednesday or Thursday. With these days, you are not rushed by the closer, the lender has time to balance with the closer ON TIME, and everyone is a bit less stressed! Of course this date is negotiated between buyer and seller, and if the end of month is best for both parties - then it will close end of month!