When and how to send your first payment
Your lender will tell you the exact due date for your first mortgage payment in the closing documents you sign at settlement. This date is usually 30 to 60 days after closing, not the day you get the keys. The lender specifies the payment amount, the account number to reference, and the mailing address or online portal where the payment goes.
You have three main ways to send the payment: mail a check, set up an automatic transfer from your bank account, or pay online through your lender's website or app. Most lenders accept all three methods. The safest approach is to set up automatic payments before the due date so you cannot miss it by accident—but read the fine print first, because some lenders charge a small fee for automatic bank transfers while others charge nothing.
Do not send payment to your real estate agent, title company, or anyone else involved in closing. Send it only to the address or account your lender specifies in the loan documents. If you are unsure, call the lender's customer service line and confirm the payment address before you send anything.
Key Takeaways
- Your lender will state the exact due date, payment amount, and where to send it in your closing documents—usually 30 to 60 days after you close.
- You can pay by check, automatic bank transfer, or online portal, and setting up automatic payments before the due date prevents missed deadlines.
- Send payment only to the address or account your lender provides in the loan documents, never to a real estate agent or title company.
- If your payment arrives late, contact your lender immediately to ask about a grace period, which many lenders offer for a few days after the due date.
- Keep proof of payment—a cancelled check, bank statement, or online confirmation—in case a dispute arises about whether the payment was received.
Setting up automatic payments to avoid missing the due date
Automatic payments are the most reliable way to ensure your first payment arrives on time. You authorize your lender to withdraw the payment amount from your bank account on the due date each month. To set this up, log into your lender's website or call their customer service number and ask for the automatic payment option.
You will need to provide your bank account number and routing number. The lender will verify these details and confirm the payment date and amount. Some lenders let you choose the exact day of the month; others tie it to a fixed schedule. Ask whether the lender charges a fee for automatic transfers—many do not, but some charge $1 to $3 per transaction.
Even if you set up automatic payments, check your bank account a few days before the due date to make sure the funds are available. If your account is short, contact your lender immediately to ask about a payment plan or deferment option rather than letting the payment bounce.
Paying by check or online portal
If you prefer to pay manually, you can mail a check to the address your lender provides. Write your loan number on the check and mail it at least one week before the due date to account for postal delays. The lender's payment processing center may take several business days to receive and post the check, so early mailing protects you if there is a delay.
Many lenders also offer an online payment portal where you can log in and submit a one-time payment using your bank account or debit card. This method is faster than mailing a check—the payment usually posts within one to two business days. Some lenders charge a small fee (typically $15 to $25) if you pay with a credit card, but bank account transfers are usually free.
If you use the online portal, make a note of the confirmation number the lender provides after you submit the payment. This number is your proof that the payment was sent, which matters if a dispute arises later about whether the lender received it.
What happens if your payment is late
Most lenders offer a grace period of 10 to 15 days after the due date before they report the payment as late to credit bureaus. This means if your payment is due on the 1st and arrives by the 10th or 15th, it will not damage your credit score. However, the lender may charge a late fee—typically 4 to 6 percent of your monthly payment amount—if the payment arrives after the due date, even within the grace period.
If your payment will be late, contact your lender as soon as you know. Explain the situation and ask whether they can waive the late fee or extend the grace period. Some lenders will work with you on a first late payment, especially if you have a good reason and a solid payment history otherwise. Do not wait until after the due date to call—reaching out before the deadline shows good faith and gives the lender time to consider your request.
If your payment is more than 30 days late, the lender will report it to the credit bureaus, and it will appear on your credit report for seven years. This can lower your credit score and make it harder to borrow money in the future. If you are struggling to make the payment, ask your lender about forbearance or loan modification options before you fall behind.
Keeping records of your payment
Save proof of every payment you make. If you mail a check, keep the cancelled check or a bank statement showing the withdrawal. If you pay online, save the confirmation number and take a screenshot of the confirmation page. If you set up automatic payments, review your bank statements each month to confirm the payment went through.
These records protect you if a dispute arises—for example, if the lender claims they never received a payment or if there is confusion about which month a payment covered. A cancelled check or bank statement is the strongest proof that you sent the money. A confirmation number from an online payment is also solid evidence, though slightly weaker than a bank record.
Keep these records for at least seven years, which is how long a mortgage typically lasts and how long disputes can theoretically be raised. If you pay off the loan early, you can discard the records after a year or two, but there is no harm in keeping them longer.
Coordinating with your escrow account
Your mortgage payment may include more than just principal and interest. If your lender requires an escrow account, your payment also covers property taxes and homeowners insurance. The lender collects these amounts each month and pays the bills on your behalf when they are due.
Your lender will tell you the total payment amount—including escrow—in the closing documents. This total is what you send each month. You do not need to pay taxes and insurance separately; the lender handles that. However, if your property taxes or insurance rates change during the year, your monthly payment may increase or decrease, and the lender will notify you of the new amount.
If you do not have an escrow account, you are responsible for paying property taxes and insurance on your own schedule, separate from your mortgage payment. Ask your lender at closing whether an escrow account is required or optional in your situation.
What to do if the lender does not receive your payment
If you mailed a check and the lender says they never received it, ask the lender to provide the date they claim to have received payments before and after yours. This helps you narrow down whether the check was lost in the mail. You can file a claim with the U.S. Postal Service if you believe the check was lost, though recovery is not may provide.
If you paid online and the lender says the payment did not post, provide your confirmation number and the date you submitted it. The lender can trace the transaction through their payment processor. If the payment was submitted but never posted, the lender should credit it to your account once they locate it. If it was never submitted, you will need to send the payment again immediately.
In either case, ask the lender in writing to waive any late fees if the delay was not your fault. If the lender refuses and you believe you paid on time, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) or your state's banking regulator. Keep all documentation—bank statements, confirmation numbers, postal receipts—to support your case.
Frequently Asked Questions
Can I pay my first mortgage payment before the due date?
Yes, you can pay early. Paying early does not hurt you and reduces the interest you owe over the life of the loan. However, check your loan documents to see if there is a prepayment penalty—some older mortgages charge a fee if you pay off the loan or make large extra payments within the first few years. Most modern mortgages have no prepayment penalty.
What if I close on the 15th of the month—when is my first payment due?
The due date depends on your loan documents, not on your closing date. Your lender will specify the exact due date at closing, which is typically 30 to 60 days after you close. For example, if you close on the 15th, your first payment might be due on the 1st of the following month or the 1st of the month after that. Check your closing documents to confirm.
Do I have to set up automatic payments, or can I pay manually every month?
You can choose either method. Automatic payments are convenient and reduce the risk of missing a due date, but they are not required. If you prefer to pay manually each month, you can do that as long as you send the payment before the due date. Just make sure you have a system to remember the due date each month.
What if I cannot afford my first payment?
Contact your lender immediately and explain your situation. Ask about forbearance, which temporarily reduces or pauses your payment while you get back on your feet. Forbearance is not forgiveness—you still owe the money, and it gets added to the end of your loan—but it can prevent a late payment from damaging your credit. The sooner you reach out, the more options the lender can offer.
Can I pay my mortgage with a credit card?
Most lenders do not accept credit card payments directly because the fees are too high. However, some third-party payment processors allow you to pay your mortgage with a credit card for a fee of 2 to 3 percent. This only makes sense if you are earning rewards points that exceed the fee. For most people, paying from a bank account is cheaper and simpler.