When is my first mortgage payment due after closing?

Answer Mortgage payments generally are paid in arrears to cover the previous month. So if you close in April, your first mortgage payment won't be due until June 1. The payment will include the interest a... Read More »

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Do I Have to Prove I Have Down Payment Saved Before Closing?

Acrylic and polycarbonate are plastics that each have their own characteristics and specific uses based on those characteristics. Acrylic is much less expensive, and stands up better to heat and ex... Read More »

How long does the mortgage closing take?

A mortgage closing is typically completed in one to six weeks, depending on how quickly the lender can review the loan application, documentation and appraisal of the property's value. Borrowers wh... Read More »

What are mortgage closing costs?

Mortgage closing costs are normally between 2 to 4 percent of the total purchase price for the home. The closing costs fees include, but are not limited to, attorney fees, title policies, home insp... Read More »

How Do Mortgage Companies Come Up With Closing Costs?

Taking out a mortgage loan isn't inexpensive. The 2009 closing costs study by financial website found that borrowers taking out $200,000 mortgage loans paid an average of $2,732 in ori... Read More »