When Will My First Mortgage Payment Be Due

“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 payment would be due on August 1.”

Typically if you close within the first 10 days of the month, you have the option of your 1st mortgage payment being due the 1st of the immediate month or skipping that month and it be the following month (i.e. closing on Feb. 7th you could choose your 1st payment to be due march 1st or April 1st).

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Initially, the bulk of your payment will go toward paying down the interest on the loan, but over time, more of your. When will my first mortgage payment be due?

You’ll be charged prorated daily interest from March 15 through March 31 on your closing statement. The interest collected at closing will cover the interest due on your mortgage for those last 16 days in March. Then your first mortgage payment will be due on May 1 and that payment will include the interest for April.

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Ray Brousseau, president of Carrington Mortgage Services, says there’s a simple rule when it comes to the first mortgage payment. "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.