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How Many Days After Closing Is First Mortgage Payment Due

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This will be the same for any lender you chose. Your loan payment will be due on the first of the month not 60 days from close unless you close on the first of the month. But remember you will pay 30 days interest in escrow if you close on the first or your payment will be due in 30 days.

The First Payment. Your first mortgage payment can’t come due for at least 30 days after closing and it must be scheduled for the first of the month. If you close on either September 10 or September 20, your first payment would be due November 1 – the next available first day of the month after the 30 days have elapsed.

Curious about when to close on your home to buy or refinance. Learn when your mortgage payment will be due based on the day that you close on your loan at settlement. Questions about real estate.

Closing on June 15, you would prepay 15 days of interest (15 x $41.10 = $616.50) Closing on June 29, you would prepay 2 days of interest (2 x $41.10 = $82.20) In this situation, you would save $534.30 on the front end during closing by changing the date.

My question is this – say if we close on January 20th – how many days after closing would our first payment be due? It is my understanding that your first payment is due 60 days later, so that would make our payment due on March 20th if I am understanding this correct.

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Most people probably know that mortgage payments are due on the 1st of the month, but many loan servicers (those who collect your payments) will allow you to pay 15 days "late" each month. So even though your mortgage payments are technically due on the first each month, you can pay as late as the 15th every month without any kind of penalty.

Recently, The Citizen’s Voice told 840 union members and their families that closing. or a payment plan. If warranted,

If you close the first week of August, say August 3, you may have a choice. You can pay interest at closing for 29 days, with the first regular payment due october 1. The cash required at closing would be higher than if you closed in late July, but the first payment would be pushed out almost a month.