Buying a home comes with a lot of emotions—excitement, anxiety, anticipation—and often, a whole lot of financial juggling. One of the biggest fears we hear from our clients is the worry that they’ll be stuck paying both a rent payment and a mortgage payment in the same month. With moving expenses, deposits, and other upfront costs, the idea of double payments can feel like too much.
But here’s the good news—and a little-known homebuying perk that we always make sure to share:
Your first mortgage payment is typically not due until more than a month after closing—often closer to two months.
Here’s how it works: Mortgage payments are made in arrears, which means you’re paying for the previous month rather than the upcoming one. So, let’s say you close on your new home on June 20th. You’ll pay the daily interest from June 20th through June 30th at closing, but your first full mortgage payment won’t be due until August 1st.
This built-in gap—sometimes called a “payment holiday”—can give you a much-needed financial breather. Instead of scrambling to pay rent and a mortgage in July, you have several weeks to settle in, recover from your moving expenses, and adjust your budget before your new home loan kicks in.
Why this matters
In the middle of a move, every dollar counts. You’re dealing with movers, furniture, deposits, and likely some surprises along the way. Knowing that your mortgage payment doesn’t start right away can help you plan more confidently—and stress less about the transition between homes.
At Sage & Cedar Real Estate, we believe the best real estate experience isn’t just about getting you to the closing table. It’s about setting you up for long-term success. That includes sharing the kinds of behind-the-scenes insights that most agents overlook.
We’re not just here for the sale—we’re here for you
Whether you’re buying your first home or your fifth, we want you to feel empowered at every step. From timelines and closing costs to mortgage logistics and move-in prep, we’re here to demystify the process and make sure you feel supported—not sold to.
Got questions about mortgage timing, payment structures, or what to expect after closing?
Let’s talk! We’re always happy to grab coffee, hop on a call, or answer your DMs.
→ Ready to feel confident about your next move? Reach out here.