Making first mortgage payment?

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Ok, this probably sounds like a stupid question, but how do you usually get credited for a mortgage payment? I used a local bank for my mortgage, and closed the end of April. My first payment is due June 1,and I want to send it in now. I thought I would get something in the mail, like some kind of bill or invoice, or payment coupon book or something by now. I got the original deed and mortgage papers, but there’s no kind of loan or reference number on it. When I send a check, how are they going to know what loan to apply it to? I will call the bank tomorrow, but I’m curious as to how it usually works.

  1. Reply
    May 4, 2011 at 5:05 am

    Don’t pay until you get the coupon. Usually you have a grace period so it doesn’t have to be before the due date. I think my last mortgage might have had something in the paperwork about paying the first payment. They usually sell the loan about the time of the first mortgage payment so you probably won’t be serviced from your local bank.

  2. Reply
    Rj P
    May 4, 2011 at 6:01 am

    Yes, call the bank..they should have opened you up a mortgage account…or had you sign papers to have an automatic payment withdrawn out of that account….definately call your bank. OH, and congratulations on your new home may you have many years of happiness there.

  3. Reply
    May 4, 2011 at 6:04 am

    True….your bank will almost certainly sell your mortgage to another lender before the first payment is even due so, if I were you, I’d wait until I received the statement before I got in a hurry to send in any money. Most banks DO sell your mortgage unless you used a bank that specifically advertises that they service their own loans. When they sell it, nothing will change except for the name of who your lender now is. We took out a loan with our local bank and before the first payment, they sold the mortgage to Chase. You should be getting the first statement about 10 days before the payment is due. I usually get my statement about 2 weeks before it’s due, so it varies from lender to lender. Also, when you get your first statement, it will have a “loan number” on it…..this is what you copy down on your check in case the two get seperated so they can get it back to where it belongs. Since your first payment isnt due until June 1st, I’m willing to bet you’ll get the statement in the mail within the next few days.

  4. Reply
    May 4, 2011 at 6:54 am

    When my husband and I closed on our house, the closing papers actually included a coupon for making the first payment. My husband likes it to be paid early so I used this coupon. Two days after I sent the payment, we received the first statement/coupon in the mail. Since we already paid (and I confirmed receipt of the payment) we just put the first statement/coupon to the side. Our statement comes around the 10th of the month, and I mail it out the next business day.

    Since you used a local bank, just go there and tell them you want to make your mortgage payment today.

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