By Admin on Nov 22, 2008 in Renting & Real Estate
Popeye asked:
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?
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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?
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first payment will be due in september.
ADP_14 | Nov 25, 2008 | Reply
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 & send it into them. You must get approval!
Biggie @ Arbor Mortgage | Nov 28, 2008 | Reply
You will usually pay the balance of the current month and owe on the first of the next month.
estielmo | Nov 28, 2008 | Reply