We’re buying a house and our loan is cleared to close, but our lender just let us know that because our APR has changed since their first set of disclosures, they are legally required to give us new disclosures and a 3 day period before the loan can fund. This is a weird law, since the rule is ostensibly to protect us from last minute increases but the APR actually went down (due to the seller agreeing to contribute to closing costs), but so it is. The consequence is that closing will now be one day later than agreed in the purchase agreement.

The seller has already wired her money to escrow, and apparently the one day delay will make her costs increase a little bit. I assume we will pay the difference, since the delay is on our end.

So, my first question is, what will the increased costs be? I assume it is one day’s worth of her mortgage and insurance – is there anything else? She’s not buying another house so there’s no risk of messing up a deal for her.

My second question is, will we need to get a new addendum signed changing the closing date and/or specifying that we’re going to pay the one day’s costs (once we know what they are)?

Thanks very much!
This is in the state of Oregon, where lawyers are not typically involved. We aren’t working with a lawyer or a mortgage broker, just the lender, a title company/escrow (neutral party), and a realtor who is unfortunately a bit of a dimwit.