We rarely will do a first mortgage, and when we do, we typically will not collect the odd days interest up front...which means it will take a few months for the loan to start paying down principal. In some cases the first payment may not be for 45 days.

When I use the OCC APR calculator, everything checks out okay with what we disclose to the customer, but I was just wondering if I'm missing something????

Thanks!

You just have to make sure your loan amortizes correctly with the payments disclosed.

Because........................
If you amortize the disclosed payment schedule and find there's an unpaid balance due at the end, then the payment schedule you disclosed and loaded into APRWIN is not the actual payment schedule. The balance due confirms that your payment schedule, TOP, AF, and APR are all understated. To get accurate calculations, add the unpaid ending balance to the last payment and then run APRWIN.