When will I get my first payment? (2024)

FAQs

When will I get my first payment? ›

Mortgage closing date – You can typically expect your first mortgage payment one month after closing.

Payroll checks can be issued at the end of every pay period, or they may be delayed, and the paycheck may be issued a week or two (in some cases, even longer) after an employee begins their work. At the latest, an employee should get paid by their company's regular pay date for the first pay period they've worked.

Since mortgages are paid in arrears and on the first of the month, your first mortgage payment typically comes at the start of the new month after you've lived in your new home for 30 days. This means that if you close on your house on May 25, your first payment is due July 1.

Timing your first benefit payment

Your first check won't arrive until the month after the one you pick in your application. You can apply any time up to four months before the month you pick.

When can you expect to have to make your first payment on your new mortgage? Your first payment will be due the first of the month 30 days after closing. For example, if you close your loan on Feb. 15, your first mortgage payment on your new loan will fall on April 1.

You can expect to receive your first paycheck on the first employee-wide payday after a company hires you. The exception to this is if you are hired after the company completes payroll processing for their team, in which case those extra days may be added to the next pay period.

When starting a new job, there may be a slight delay in seeing your first paycheck. This can sometimes happen because of a lag between your first workday and the company's next pay period.

What to expect from your first mortgage payment. First payments can be higher than your ongoing monthly payment. This is because it'll include interest from the date we released the funds, up to the end of that month, plus your payment for the following month.

Allowing the borrower to skip the first payment is not a gift from the lender, the interest not paid for the month will be added to the loan, and the borrower will pay interest on that for the life of the loan. A payment that is miniscule to one is a fortune to another.

A seller typically receives their money from the home sale 24 – 48 hours after closing. This timeline can be different depending on your state and whether the seller chooses to receive their money by cashier's check or wire transfer.

How do I get the $16728 Social Security bonus? ›

There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.

For people who are earning 25,000 dollars across the year rather than the previously mentioned amount, 1,880 dollars of the benefits would have to be withheld, so the monthly benefit amount is 1,886 dollars.

Most closings are at the end of the month so buyers can minimize the interest they pay in closing costs. If this doesn't matter to you, or if you'll benefit by delaying mortgage payments, choose an earlier date.

Mortgage forbearance is an option that allows borrowers to delay or lower their mortgage payments while they are experiencing a financial hardship, such as a job loss, illness or other setback. Interest still accrues on the loan during forbearance.

The closing date is the last day in a billing cycle, and the due date is when a payment is due on your credit card, usually about one month after the closing date. As an example, if your closing date is June 5, 2025, your credit card statement may arrive on June 8, 2025.

Once an employee submits payroll, employees can expect two to three days until their wages arrive in their bank account. So, when using payroll processing software, employees will typically receive their pay within five days of the pay period's end date.

Early direct deposit provides the entire paycheck early, usually up to two days, at no cost. Many big banks offer this feature today. Dependency on early access to your wages is a risk to be taken seriously.

Direct deposit funds are often available almost instantaneously, but sometimes the transfer takes longer to go through and be processed by the receiving bank. Direct deposits can take between one and three days.

The first paycheck is calculated based on your gross pay for the days you worked during the first pay period. Deductions for taxes, Social Security, Medicare, and other benefits are subtracted from your gross pay to arrive at your net, or take-home, pay.