When is my first mortgage payment due?



When is my first mortgage payment due?

Your first mortgage payment will be due on the first of the month, one full month (30 days) after your closing date. Mortgage payments are paid in what are known as arrears, meaning that you will be making payments for the month prior rather than the current month.

How do I make a cheque to Halifax?

Cheques should be made payable to Halifax followed by your name and your 14 digit mortgage account number followed by 00. If you want to make the payment to a specific part of your mortgage, replace 00 by the sub-account number for that part of your mortgage.

What is included in a first mortgage payment?

Your first mortgage payment will include the principal and the interest for the first full month that you own the home. You won’t owe a principal payment for any “extra” days beyond that first full month, because you will have had to prepay the loan interest for those “extra” days at the time of closing.

When do you get your first Halifax payment?

I love Halifax – use them for everything. It will be the month after the end of the payment month you move (ie if you move 24th September and have requested DDs for 1st of the month, first payment will be November 1st. Shouldn’t be a lot higher as it’s only a week over a full month).