When is First Mortgage Payment Due?

After closing, the first mortgage payment dues on the first of every month. It is not imperative to know the exact date of your mortgage payment, but knowing when you can expect the first payment due is crucial. In the home buying process, numerous components are there that you have to manage. Moreover, your closing date determines your due date. Hence, taking care of each aspect is essential. It also indicates how much-prepaid amount you will be liable to pay at closing time. If taking care of all these aspects is a predicament for you, seeking help from the financial advisor of mortgage in Rocklin will be beneficial and worthwhile. He will assist you in making a plan for your mortgage payments each month.


When is your First Mortgage Payment due date?


The due date of your first mortgage payment relies upon the closing date you set, and it is usually more than 30 days away. For instance, if you choose to close your account on January 15, the expected mortgage due date will be March 1. You won’t have a payment due on February 1, and it is how you can determine your first mortgage payment due date. Moreover, the documents you received at closing can assist you in determining your first mortgage payment due date. In the concerned documents, under the heading of the first payment letter, you will find the necessary details you need to know for making the payment.


Most importantly, you have to keep this thing in mind while closing a loan; if you choose to close the loan earlier in the month, you might have to wait for a prolonged period to replenish cash before making the first payment.


While on the contrary, if you schedule your closing for later in the month, you would have to pay less prepaid interest. It is the interest that occurs between the period of the closing date; and when the first mortgage payment is due. Also, you can visit the mortgage companies dealing in a home loan in Roseville to assist and guide you with all the legalities and procedures.


What does your Mortgage Payment Contain?


Your mortgage payment encompasses the loan principal, taxes, interests, and homeowners insurance. The PITI is the short term for highlighting these components, and they are as follows:


Principal: It is the actual amount that you borrow and have to pay back

Interest: It is that amount that the lender charges on you while giving you the amount

Taxes: These are property taxes that you have to pay depending on the assessed value of your home.

Insurance: The closing amounts may contain the first-year premiums of homeowners insurance.


Moreover, through the mode of PITI calculator, you can even calculate the impact of your mortgage property on your monthly budget. To know in-depth, you can seek help from the financial advisor dealing in refinance in Roseville.



What are the Payment Modes to Pay Mortgage Loan Payment


Several ways are available through which you can feasibly make your mortgage loan payment, or else you can use the traditional method of submitting the payment via check. Some of the effective ways are as follows:


Online Mode Of Payment:


Visit your lending institution’s website page and register yourself. After registering, you are all set to make the payment online.




It is an easy way to make payments automatically. You can use this option in two ways. The first way comprises setting up a transfer from your saving account to your mortgage account with your concerned financial institution.

In the second option, you have to call your mortgage company and ask them to enable the autopay from your bank account to the mortgage account. During this process, you have to give them your bank account information.




One of the most feasible options is a phone. By calling your mortgage company, you can make your payment in no time. In this, you have to complete the information about your bank account Read more

Leave a Reply

Your email address will not be published.