source:
  type: guide
  id: usda-hb-3555-16.8
  authority: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶16.8 —
    Closing Date
  description: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶16.8
    — Closing Date.
  coverage_tier: operative
obligations:
- id: usda-hb-3555-16.8-full
  canonical_id: usda-hb-3555-16.8-full
  section: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶16.8 — Closing
    Date
  type: do
  tags:
  - regulator-direct
  - usda
  - usda-handbook
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: USDA SFH Guaranteed Loan Program Technical Handbook HB-1-3555 ¶16.8
      — Closing Date
    source_class: usda-handbook
    source_url: https://www.rd.usda.gov/sites/default/files/hb-1-3555_consolidated.pdf
    snapshot_id: 0466acd1ea2d17a4
    fetched_at: '2026-05-25T14:10:13Z'
    content_hash: sha256:22ac6f998ff72578e318fca138ebe80fb18ae2fc701eb5936172f1842679a13a
    paragraph_quote: '16.8 CLOSING DATE The date of closing will be defined as the
      closing date listed on the Closing Disclosure and entered on the GLS “Add/Update
      Loan Closing” screen. Borrowers may elect an interest credit settlement, where
      interest will be paid at closing to the previous first day of the month. The
      maturity date for this type of settlement will be slightly less than 30 years.
      Example: Borrower closes loan on October 3, 2019. For most loan closing settlements,
      interest would be paid from the settlement date to the beginning of the next
      month, November 1, 2019. The first payment would be due December 1, 2019. The
      maturity date would be November 1, 2049. Should the borrower elect an interest
      credit settlement, fewer funds are required at closing. Interest would be paid
      to the previous first day of the month, October 1, 2019. The first payment would
      begin November 1, 2019, and the maturity date would be October 1, 2049, in this
      example.'
  judgment: false
