I am closing on a house in the next week in Illinois. I am planning on spliting up my mortgage payment into a bi-monthly payment. Any ideas as to how long after closing before I have to make my first payment?How long after closing, before my first mortgage payment is due?
first payment will be due in september.How long after closing, before my first mortgage payment is due?
If you are closing next week, your payment will be due in September. Also, I think you mean making the mortgage payments bi-weekley? (twice a month) You can't just do that though, you have to make sure the lender allows for this. You can't just split up your payment in 2 %26amp; send it into them. You must get approval!
You will usually pay the balance of the current month and owe on the first of the next month.
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