1 100 Minecraft Getting Story-Driven Series from Telltale GamesMinecraft: Story Mode -- A Telltale Game Series coming in 2015 to consoles, PC, and mobile devices.
After closing, your first mortgage payment comes due one full month after the last day of the month in which your mortgage closed. Using the April example again, if you close April 15 or April 29, your first mortgage payment is due on June 1.
Calculation. When it comes time to make your first monthly mortgage payment, your principal balance is $200,000. Applying the monthly rate--0.625 percent--to that amount gives you an interest charge of $1,250 for the first month.That's only part of your first month's payment, though. You'll also pay off a little of the principal.f you were to take out a $200,000 mortgage for 30 years at, say, 7.5 percent interest, your monthly payment would be about $1,400. How does the 7.5 percent interest factor into that? The answer is that your annual rate gets broken down into a monthly rate, which is applied to your monthly balance.