Where every dollar of a mortgage payment goes
Your first payment date
In one paragraph
Mortgage interest is paid in arrears, so the first payment is usually due on the first of the month after a full month has passed since closing. Interest from closing to month end is collected at closing. The Closing Disclosure shows the date.
Last reviewed against the primary sources listed below.
Find it
- Closing Disclosure, page one.
- Welcome letter from the servicer.
Common questions about interest
When is my first mortgage payment due?
Usually the first of the month after a full month passes.
Why do I pay interest at closing?
It covers the days from closing to month end.