How soon is first mortgage payment?

Hi there,Typically, this would be the first day of the SECOND month after you close. So, if you close in April, your first payment would be June 1, close in May, first payment July 1, etc. However, if you close within the first 7 days of a month, your lender could set it up so that you have your first payment due on the first of the month following your closing. Usually if you tell your lender in advance how you would prefer it set up, they can accommodate you.

Most likely yes. Depending on how much prepaid interest is set up on the loan at close. But yes, 30-45 days generally.

You always skip the month after... So close any day in April, there would be no payments in May, and your first payment would be due June 1st. www.WI-MortgageBroker.com

Your loan documents will tell you exactly when your first payment is due and who and where to pay it. Typically if you close in March your first payment would be May 1 but check your loan documents to be sure.

It depends on what day you close and how your lender has it set up. If you have prepaid interest on your closing settlement statement, it would be the second 1st of the month after close. If you have an interest credit on the closing statement (less common), it would be the 1st of the month after close. Your closing documents will have a specific document addressing this issue.

It is typically on the first day of the second month following closing.

If you close/fund in April payment would be due in June.Lending Nationwide. VA, FHA, USDA, FNMA, FMAC, Reverse, Commercial, SBA, Jumbo. 877 890 3892 / john.bates@cbcnationalbank.com