After Closing On A House When Is First Payment Due

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"Typically, your first mortgage payment is due on the first of the following month after 30 days have passed," he says. "Say, for example, your mortgage closes on June 22. Then your first.

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To get the best and accurate answer call your lender. If you do not have a mortgage and are just curious about when the the first payment would be due call a lender such as a bank and ask the loan officer when and how you would be notified for the first payment after closing on a house.

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Say you close your loan on the 15th day of May and your first payment is due on July the first. You have to pay for interest between May 15 and 31 at closing. So technically, you’re making your very first mortgage payment at the closing table.

Choosing your closing date depends on a number of factors. A home seller may stipulate a closing date in the contract, and you could lose the home by missing it Your house closing costs may depend.

Here’s an example: If you close on November 5 and your first mortgage payment is due after January 1, When is My First Mortgage Payment Due After Closing? – First mortgage payment options and interim interest vary based on the closing date, loan terms, and sometimes there is an option of which payment date is chosen.

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New homeowners often wonder when mortgage payments start, as there’s sometimes a considerable gap between closing and the due date of the first monthly payment. For example, you may have been told by your real estate agent or mortgage broker that payments won’t start for 45 days or longer and express some optimism as a result.