Can we know the first mortgage payment due date in advance?

[coody]

Is it possible to know the first mortgage payment due date before the closing date? For example, let’s say the closing date will be November 28th. The lender funds a 15-year fixed mortgage. Can we know the first mortgage payment due date before the closing date?

[pojo2]

Why not ask this question of your loan officer because it can vary.

He/she should be able to tell you exactly.

[Samm1970]

But the answer is yes you can know that. I'm curious why you're asking us rather than your loan officer.

[coody]

I have not contacted the lender but need to manage the funds in advance. Knowing the relationship between the first mortgage payment due date and the closing date will help to control the funds in and out.

[efflandt]

My original mortgage closed about May 24th with first payment due July 1. When I refinanced about March 18th my first payment for the new loan was not due until April 18th, so I had an extra paycheck to work with between March 1 and April 18th. But the latter was not a conventional mortgage, it was essentially a 1st lien fixed rate HELOC. Interest for any lag is factored into the loan.

Typically first payment for a conventional mortgage closed 11/28 would likely be due 1/1. But for an unknown loan, you would have to ask your lender.