Can You Skip Your First Mortgage Payment When Buying a House?

When you buy a house and obtain a mortgage, most lenders will let you skip the first monthly payment. If you buy a house in April, you may not have to make your first payment until June 1st or even June 15th. Lenders will make this sound like a huge advantage, but are you really saving money by skipping a mortgage payment? The truth is banks would not give anyone a free month just because banks are nice. Banks charge buyers the interest for that month upfront. How are you still paying interest to the bank if they allow you

The post Can You Skip Your First Mortgage Payment When Buying a House? appeared first on Invest Four More.



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