Your Monthly Payment Includes:
Principal
The portion that pays down your loan balance.
Interest
Fixed for 30 years — no rate changes.
Property Taxes
Collected monthly and paid on your behalf when due.
Homeowner’s Insurance
Also escrowed and paid through your lender/servicer.
Mortgage Insurance (If Applicable)
Required in some scenarios depending on loan profile.
HOA Dues (If Applicable)
Not included in your loan payment; paid separately to the HOA.
When Your First Payment Is Due
Typically 30–60 days after closing, depending on:
The date you close
Prepaid interest at closing
Your exact date will be listed on your Closing Disclosure and loan documents.