When is my first payment due?

Your Title Company should have provided you a folder of all important documents signed at closing. Please refer to the Note and the First Payment letter for the first payment due date and you can find the amount due on the First Payment Letter.

If your Title Company did not provide any documents at closing, please contact Element Servicing at [email protected] or call 1-866-765-1827 for assistance on your loan.

Here is an explanation on how the first payment due date is determined: Your first payment is due the following month of the loan closing date unless you opted for an early payment due date in which case your first payment due will be the very next month of closing. For example, if you closed on March 15th, your first payment will be due on May 1st. If you opted for an early payment, your first payment will be due 04/01/2021.

Please refer to the Note for the first payment due date.

These blogs are for informational purposes only. Make sure you understand the features associated with the loan program you choose, and that it meets your unique financial needs. Subject to Debt-to-Income and Underwriting requirements. This is not a credit decision or a commitment to lend. Eligibility is subject to completion of an application and verification of home ownership, occupancy, title, income, employment, credit, home value, collateral, and underwriting requirements. Not all programs are available in all areas. Offers may vary and are subject to change at any time without notice. Should you have any questions about the information provided, please contact us.