This Article Is About First Time Home Buyer Mortgage Requirements And Guidelines With rates forecasted to increase 3 more times this year, now is a good time to consider moving forward with a new home purchase. Mortgage rates are at all-time lows. After the Federal Reserve Board lowered interest rates to zero percent, mortgage rates […]
This Article Is About First Time Home Buyer Loan Programs And Mortgage Process First-time home buyers have dominated the housing market for the last 10 years. All trends show this streak is likely to continue. Many first-time homebuyers are leery to enter the housing market due to misconceptions of the mortgage process. Many renters still […]
This Article Is About Illinois DPA Mortgage Programs For Home Buyers Gustan Cho Associates offers DPA Mortgage Programs for home buyers. Our Illinois DPA Programs are not just for first-time home buyers. Illinois DPA Programs for repeat buyers as well as first-time home buyers. Most people can afford the proposed new housing mortgage payments. With rents […]
The housing market is booming. More and more renters are rushing to get pre-approved for a mortgage. Historic low mortgage rates are motivating renters in owning versus renting.
When is your first mortgage payment due?
Your first mortgage payment is due the first day of the first full month after closing.
You have 15 days to get your payment in before it’s late.
Your mortgage payment covers interest accrued the previous month.
You can choose a closing date to minimize closing costs or to extend the period before your first payment is due.
Most people do not pay in cash for their first home. So it’s important to understand mortgage payments before buying a home. This articles tells you what goes into a mortgage payment, how your mortgage payment reduces your loan balance and how you pay off your home loan.
One of the states many New Yorkers are fleeing to is Pennsylvania due to affordable housing and lower state taxes.