 TITLE: What Is a Grace Period? CONTENT: What Is a Typical Grace Period for a Mortgage?\n----------------------------------------------\nA grace period for a mortgage varies from lender to lender, but typically lasts around 15 days from your payment due date. That means if your mortgage payment is due on the first of every month, you'd have until the 16th of the month to make your payment without penalty.\nAs long as you make you payment within the grace period outlined by your lender, your creditor won't be able to charge you any late fees. Late payment fees on mortgages can range from 3% to 6% of the monthly payment amount, depending on the local laws and lender.\nSince grace periods vary depending on the lender, make sure to check your mortgage documents to find out how many days you have before you're hit with a late payment penalty. END