What Is First Mortgage Payment?
First Mortgage Payment: Usually due on the first of the second month after closing, because interest is paid in arrears.
Your first mortgage payment is usually due on the first day of the second month after you close. If you close on May 20, your first payment is due July 1.
Why there's a gap
Mortgage interest is paid in arrears: each payment covers interest for the previous month. At closing, you prepaid interest from the closing date to the end of that month, so the July 1 payment covers June.
Where to pay
Your lender or servicer will send a welcome letter or first statement with payment instructions. If you haven't received one two weeks before the due date, contact the lender.
Good to know
Set up automatic payments once you've confirmed the servicer's details through a trusted source.