Close of Escrow (COE), Definition

Close of Escrow (COE):

This is the date that you meet the obligations on your purchase contract and close your new home loan. It should be the day that you get your keys. With a refinance, it is the day that the your new lender, Arizona Wholesale Mortgage, has the funds wired to your old lender. It is also the day that you start to accrue interest on your loan.

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