Should I make my mortgage payment before closing?
That depends on your closing date and time.
The title company will order a payoff statement from your current lender so they know the amount to send after closing.
Many title companies schedule the payoff amount based on the day after closing. Some experts would advise if you have not made your payment for the month and you are closing on or before the 14th then your payoff with the title already includes the interest due for November. So it might be ok to not make the payment as long as the loan funds in November and the payoff is wired to the lender.
Not sure what to do… pay the monthly payment!
You will be only paying for the days you are the property owner. If you overpay, you’ll get your money back as long as everything goes as planned.
Questions about buying or selling your home
Call Margaret Rome
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