When Is My First Mortgage Payment Due After Closing?

A very popular question from a home buyer is “When is my first mortgage payment due after closing?”.  More than likely your mortgage payment is due on the first of each month.  Actually, traditional mortgage loans like conventional, FHA, VA, and USDA loans require payments due on the first of each month.  But, there are sometimes options of the first payment date.  In this article, we explain…

  • How a first payment due date is determined

  • Mortgage payment vs. rent

  • Interim interest meaning

  • Interim or daily interest calculation

  • Possible payment options

first mortgage payment


Interim Interest Meaning

Interim interest, also called per diem interest, is…

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