I just closed with Homepoint, when is my first payment due?
Your first payment will likely be due on the first of the month, one full month (30 days) after your closing date. Monthly mortgage payments are “arrears” which means you will be making payments for the month prior rather than the current month. This means that, for a majority of homeowners, if you close in April, your first payment will be due June 1.
Additionally, you will receive a Welcome Letter from Homepoint in the first 30 days that includes a payment coupon and more information on how to make your first payment. This letter will include the due date for your first payment to Homepoint.
Moving forward, you will receive a monthly billing statement showing the last payment received and the amount of your next payment.