when is my first mortgage payment due after closing

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If your closing happens on the 1st of the month through the 5th of the month than you can have your first payment due on the 1st of the next month or the month after. Yes, it is your choice. You see, when you make that 1st mortgage payment and all future payments on say the first of the month, that payment you just made covers the last months bill.

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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Closing on a House | 5 Things to Do BEFORE Settlement for an EASY Real Estate Closing Process After closing, your first payment is due one full month after the last day of the month in which your home loan. So, whether you close on 15 or 29 June, your first mortgage payment would become due on 1 August. When you leave your closing, be sure to ask the closing agent for.

First Mortgage Payment. When you purchase or refinance a home, your first mortgage payment is typically due on the first day of the month at least 30 days after closing. A portion of the upfront costs you pay at closing are prepaid interest. It covers the interest payment for the month the closing occurred and for the following month.

So, when you close on an FHA mortgage – or any mortgage loan – you are going to skip the month following the closing, and the first payment will be due on the first day of the next month.

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Question about closing and when first mortgage payment would be due on a 30 year fixed FHA loan. Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.

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