Do you always skip 1 months payment when starting a new mortgage?

[Caveman]

Seems to me that the last house I closed on did not require the first mortgage payment to be made until the next month had been "skipped"...

i.e. Close on house late March, 1st payment not due until late May...

 

[thomsbrain]

can't comment on it directly, but i'll bet your payments are just that much higher.

 

[acemcmac]

It's pretty normal but I doubt it's a fixed rule

 

[Queasy]

Depends on your close date but yeah.