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Recently a client asked, “When do my mortgage payments start?”

Unlike rent that is paid in advance, mortgage payments are paid AFTER you have received the money. For example, if your mortgage completes on November 30th and your payments are set up on a monthly basis, your first payment will be on December 30th. Weekly, bi-weekly or semi monthly payments will be adjusted so that a full payment will be paid by the time the first monthly payment is due.

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