(Closed) Mortgage Payments?

posted 5 years ago in Home
Post # 3
133 posts
Blushing bee
  • Wedding: June 2013

In my experience here in Canada, the first mortgage payment is generally due at the end of the period starting from the day you get the financing.  Example:  we pay ours every two weeks, so our first payment was due two weeks from the day of our closing and every two weeks after that.  I would still want to check with the lender just to make sure.

Post # 4
13099 posts
Honey Beekeeper
  • Wedding: July 2010

If I’m remembering correctly, we didn’t have a payment the first month.  But we did have all the closing, inspection, etc costs so you do have to have money available.  🙂

Post # 5
791 posts
Busy bee
  • Wedding: September 2011

We just refinanced our house back in the middle of December and our payment wasn’t due until February 1. When we first bought our house almost 4yrs ago, it was a similar situation, we closed in Novemeber and our payment was due Jan 1.  Good Luck!

Post # 6
5785 posts
Bee Keeper
  • Wedding: May 2011

We closed on the 30th and paid the first month as part of closing costs. Our “first” payment was due a month later on the 1st but we have a 15 day window to make a payment so its not late until the 16th.


Post # 7
1 posts
  • Wedding: September 2014

Your first payment will be due with in 45 – 59 days of closing.  We closed on the 12th and our payment will start coming out on the 1st of June.  I don’t think it can be extended more more than 58 or 59 days.

Post # 8
5423 posts
Bee Keeper
  • Wedding: November 2012

@amazingbee:  If you close in the middle of the month, your first payment will be due roughly within 6 weeks

Post # 9
10367 posts
Sugar Beekeeper
  • Wedding: September 2010

We didn’t have a payment the first month (you have to accrue interest to pay it). Our payment date is the 1st, but it could be different for everyone.

Post # 10
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

So we closed on the 8th of the month. Part of our closing costs was the mortgage payment for the 8th through the 30th of that month PLUS the mortgage payment for the following month. So we did not make our first standalone mortgage payment until almost 2 months after closing.

Post # 11
2406 posts
Buzzing bee

As most have said, you basically pay two mortgage payments when you close. So you get the first month off then begin paying the following month. 

We closed on the Oct. 19 and did not pay our first payment until Dec. 1. 

Post # 12
2192 posts
Buzzing bee
  • Wedding: May 2012

We just refinanced(woo-hoo! yay for a lower %) and did not have to pay the mortgage for March but did for April.  And for some reason we got money back as well. 🙂  DH understands all this.  I need to educate myself more!  

Post # 13
275 posts
Helper bee
  • Wedding: July 2014

Most allow you to “skip” a payment until you get into a regular cycle.  This however is a gift to the bank and not to you (shocker!) because that skipped payment is tacted onto the end of your mortgage and the interest charges associated with that can be staggering. 

Some math on this:


If you can afford it – don’t skip payments.   If you can’t, well it’s best to keep your eyes wide open and most should allow you to skip the first one (or more…).

Post # 14
4495 posts
Honey bee
  • Wedding: October 2013

We closed on Feb 17th 2012 and our first payment wasnt due until April 1st


Post # 15
2214 posts
Buzzing bee

I bought a house in the middle of July, and my first payment wasn’t due until September 1st.

Post # 16
2638 posts
Sugar bee
  • Wedding: November 2006

If you close on a house in the middle of a month, the month you buy in is already covered by the previous owners and the next mortgage payment is usually wrapped up in the closing costs (which you may or may not be paying some or all of). We closed July 15, first payment due September 1.

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