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Started By
Message
First house payment?
Posted on 2/15/16 at 8:32 pm
Posted on 2/15/16 at 8:32 pm
Hello, if I am closing on 3/2, would my first house payment be due 4/1 or 5/1? Just wondering. Thanks!
This post was edited on 2/15/16 at 8:37 pm
16
Posted on 2/15/16 at 8:33 pm to Herb484
You should probably ask your creditor.
Posted on 2/15/16 at 8:33 pm to Herb484
5/1
Posted on 2/15/16 at 8:34 pm to Herb484
Just roll the dice. See what happens
Posted on 2/15/16 at 8:34 pm to Herb484
This should have been made very clear to you and will be made very clear at signing.
Posted on 2/15/16 at 8:34 pm to Herb484
All houses that are closed on 3/2/16 are actually free! Obama started this! Congratulations, you don't have a house payment 
And why in the hell are you asking us for???
And why in the hell are you asking us for???
This post was edited on 2/15/16 at 8:35 pm
Posted on 2/15/16 at 8:34 pm to Herb484
Probably 5/1 but ask your lender.
Posted on 2/15/16 at 8:35 pm to Herb484
You've come to the right place.
Posted on 2/15/16 at 8:37 pm to Herb484
Hello, welcome to the OT. Home of everything you will ever need to know.
Posted on 2/15/16 at 8:37 pm to Herb484
OTers don't have house payments. They own that bitch outright.
Posted on 2/15/16 at 8:40 pm to Herb484
Could be either. Or on the 15th (or other day).
Tell your lender what day you want it on.
Tell your lender what day you want it on.
Posted on 2/15/16 at 8:41 pm to Herb484
quote:
Hello, if I am closing on 3/2, would my first house payment be due 4/1 or 5/1? Just wondering. Thanks!
Dude really ?? Ask your mortgage company - NOT the OT.
Posted on 2/15/16 at 8:43 pm to Herb484
quote:
if I am closing on 3/2, would my first house payment be due 4/1 or 5/1?
Is it a refi or a purchase loan? Most lenders would collect interest at closing for the rest of March and your first payment would therefore be due 5/1. However, a lender could give you a credit for 2 days of interest (3/1-3/2) and you would have a payment due 4/1.
Posted on 2/15/16 at 8:46 pm to Herb484
As explained to me years ago, here is the difference between rent and a house note.
Rent for a given month is due at the beginning of the month before you live in it.
A mortgage note for a given month is due at the end of the month after you have lived in the house for the month.
If you close on 3/2, my guess is that the first note is due 4/1.
Rent for a given month is due at the beginning of the month before you live in it.
A mortgage note for a given month is due at the end of the month after you have lived in the house for the month.
If you close on 3/2, my guess is that the first note is due 4/1.
Posted on 2/15/16 at 8:53 pm to Herb484
You can't afford it if this is what you're worried about.
Posted on 2/15/16 at 8:55 pm to Odinson
You can request a date for your mortgage payment to fall due.
My first one was set over a month out because I wanted it to fall on the 16th.
My first one was set over a month out because I wanted it to fall on the 16th.
Posted on 2/15/16 at 8:56 pm to ATL-TIGER-732
quote:
If you close on 3/2, my guess is that the first note is due 4/1.
It could go either way, but this is not the norm. Most lenders would collect interest from 3/2 through 3/31 at closing and the first monthly payment would be due 5/1.
Posted on 2/15/16 at 9:15 pm to Herb484
Your lender will let you know. If your asking to "make sure you have the funds" - you should probably reconsider the house purchase...
Posted on 2/15/16 at 9:39 pm to Herb484
quote:
5/1?
Most likely.
That's not something you should figure out on TD.
(Nice brag thread)
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