After you close on a home purchase, when is your first mortgage payment due?

  1. DonnaCosmato profile image98
    DonnaCosmatoposted 5 years ago

    After you close on a home purchase, when is your first mortgage payment due?

    What factors (if any) affect the actual due date of the first payment?

  2. duffsmom profile image59
    duffsmomposted 5 years ago

    The due date is set by the mortgage holder but if you contact then early you might be able to have a choice in the matter.  First payments usually fall anywhere from 30 to 45 days from the closing date.

    It can be under 30 days if for example you close on the 5th, your first payment may be due on the 1st of the following month.  It is wise to get the address and payment info at closing in case they don't get a payment book or statement to you - because whether they do or not, it will still be due.

 
working