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meganNbobby
Board Fanatic
Member since 5/03 892 total posts
Wedding Date:
9/6/2004 12:30 AM
Wed. Location:
Beach Club Estate, Lake Ronkonkoma
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how long after does your 1st mortgage payment comes?
if we close may 4th? when will the 1st bill come?
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Posted 4/30/05 2:42 PM 
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btrflygrl
Counting My Blessings
Member since 7/03 11106 total posts
Wedding Date:
3/6/2004 11:30 AM
Wed. Location:
Timber Point Country Club
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Re: how long after does your 1st mortgage payment comes?
probably about a monthlater. Our RE Agent told us if we close at the end of the month, we wouldn't get a bill until2 months later (for example, close on May 31 and the bill wouldn't come until July)
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Posted 4/30/05 2:46 PM
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ThongLori
CURLIEGIRL
Member since 4/03 1714 total posts
Wedding Date:
9/16/2004 12:00 AM
Wed. Location:
Florence, Italy/Harrison House
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Re: how long after does your 1st mortgage payment comes?
We closed April 25, our first payment is due June 1.
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Posted 4/30/05 3:20 PM
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DjPiLL
Mr. & Mrs. Pill
Member since 4/04 4198 total posts
Wedding Date:
5/28/2005 5:00 PM
Wed. Location:
Swan Club A+
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Re: how long after does your 1st mortgage payment comes?
If you close on May 4th.... your first payment will probably be June 1st.
They will give you two pay coupon stubs at closing to send your bill in with. They may not send you a bill for the 1st... but you will most likely be responsible for the 1st's payment.
July 1st may be a possibility... but i think it will be June 1st.
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Posted 4/30/05 3:27 PM
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KimberlyBride
How did I get so lucky?
Member since 2/04 8871 total posts
Wedding Date:
10/15/2005 1:00 PM
Wed. Location:
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Re: how long after does your 1st mortgage payment comes?
It will be due July 1st.
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Posted 4/30/05 3:49 PM
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chris605
HOMEOWNER and Loving it.....
Member since 6/03 2235 total posts
Wedding Date:
10/2/2004 3:30 PM
Wed. Location:
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Re: how long after does your 1st mortgage payment comes?
I closed on 4/21 and my first payment is 6/1
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Posted 4/30/05 4:22 PM
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ThongLori
CURLIEGIRL
Member since 4/03 1714 total posts
Wedding Date:
9/16/2004 12:00 AM
Wed. Location:
Florence, Italy/Harrison House
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Re: how long after does your 1st mortgage payment comes?
Posted by DjPiLL
If you close on May 4th.... your first payment will probably be June 1st.
They will give you two pay coupon stubs at closing to send your bill in with. They may not send you a bill for the 1st... but you will most likely be responsible for the 1st's payment.
July 1st may be a possibility... but i think it will be June 1st.
At her closing on May 4th, she is going to pay the per diem interest for the remaining days in May. Mortgage is paid in arrears, therefore her first payment (for the month of June) will be due on July 1.
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Posted 4/30/05 4:30 PM
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DjPiLL
Mr. & Mrs. Pill
Member since 4/04 4198 total posts
Wedding Date:
5/28/2005 5:00 PM
Wed. Location:
Swan Club A+
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Re: how long after does your 1st mortgage payment comes?
So I take it that means your closing costs are always higher the first few days of the month compared to the last few days?
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Posted 4/30/05 4:51 PM
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ThongLori
CURLIEGIRL
Member since 4/03 1714 total posts
Wedding Date:
9/16/2004 12:00 AM
Wed. Location:
Florence, Italy/Harrison House
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Re: how long after does your 1st mortgage payment comes?
Posted by DjPiLL
So I take it that means your closing costs are always higher the first few days of the month compared to the last few days?
On per diem interest it would be, yes...
For example, in a 31-day month:
-- If you close on the 1st, you pay 30 days of interest for the remaining days of the month.
-- If you close on the 29th, you pay 2 days of interest for the remaining days of the month.
In your GFE, for the per diem interest it will (or, should) say *depends on exact closing date*.
Message edited 4/30/2005 5:03:11 PM.
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Posted 4/30/05 5:01 PM
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DjPiLL
Mr. & Mrs. Pill
Member since 4/04 4198 total posts
Wedding Date:
5/28/2005 5:00 PM
Wed. Location:
Swan Club A+
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Re: how long after does your 1st mortgage payment comes?
Posted by ThongLori
In your GFE, for the per diem interest it will (or, should) say *depends on exact closing date*.
I am very aware of this clause in the GFE... in fact if I remember correctly they do the GFE based on 15 days of interest (right in the middle)...
... but I always got it confused if you pay more or less at the end of the month.
Thanks for the info.
Message edited 4/30/2005 6:23:26 PM.
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Posted 4/30/05 6:22 PM
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littlecat
"I'm Addicted"
Member since 2/03 1330 total posts
Wedding Date:
8/2/2003 12:00 PM
Wed. Location:
Crest Hollow C.C.
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Re: how long after does your 1st mortgage payment comes?
We closed on April 9th and the mortgage was due June 1. Your first payment will probably be due July 1.
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Posted 4/30/05 6:40 PM
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steph4777
My little cutie pie!
Member since 11/03 2843 total posts
Wedding Date:
7/31/2004 6:00 PM
Wed. Location:
Larkfield Manor
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Re: how long after does your 1st mortgage payment comes?
We closed Feb 14 and our first payment wasnt due til April 1st. We were in our house a full 6 weeks before we paid the mortgage.
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Posted 4/30/05 7:22 PM
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Sasha96
My other addiction!
Member since 6/02 3297 total posts
Wedding Date:
4/12/2003 5:15 PM
Wed. Location:
15th & West
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Re: how long after does your 1st mortgage payment comes?
Another vote for 7/1!
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Posted 4/30/05 7:36 PM
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meganNbobby
Board Fanatic
Member since 5/03 892 total posts
Wedding Date:
9/6/2004 12:30 AM
Wed. Location:
Beach Club Estate, Lake Ronkonkoma
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Re: how long after does your 1st mortgage payment comes?
THANKS GUYS!!!
just wondering..... i was hoping they will us a little time to recover from the closing!!!
ughhh...
i really can't wait till this is all over with and we are in the house!!!
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Posted 4/30/05 7:57 PM
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Preshy7
I love being his wife
Member since 12/04 4958 total posts
Wedding Date:
4/22/2006 3:00 PM
Wed. Location:
Hamlet Willow Creek - PERFECTION
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Re: how long after does your 1st mortgage payment comes?
we closed 3/31 and 1st due 5/1
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Posted 5/1/05 9:13 AM
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itsbouttime
Our day was perfect!!!
Member since 1/03 1558 total posts
Wedding Date:
5/15/2004 10:30 AM
Wed. Location:
Westbury Manor A++
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Re: how long after does your 1st mortgage payment comes?
we closed 9/2/04 and our 1st mortgage payment was due 11/1/04. (i think the agent told us that it was good we closed early on in the month b/c it almost gave us a full 2 months before we would have to start shelling out more cash!)
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Posted 5/1/05 2:08 PM
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