When is my first loan payment due?

[Pam&Joe]

Hi All,
If I was to buy additional points today when would my first payment be due? I know when we added on in Feb. the first payment was not due until June so would it be September for payment number 1? Thanks in advance.

 

[drusba]

This is just like buying a home and getting a mortgage at closing which you start to pay later. First payment usually becomes due about 1 1/2 months after closing. From date of purchase to closing is usually itself about 1 1/2 months although that can be as short as 30 days.

 

[disneyeveryyear]

Are you buying at SSR? If so, what UY would you have?

We just bought in December, with a June UY. We closed the end of March, but our first payment isn't until July.

I think it depends the most on your UY.

 

[Pam&Joe]

Are you buying at SSR? If so, what UY would you have?

We just bought in December, with a June UY. We closed the end of March, but our first payment isn't until July.

I think it depends the most on your UY.

We bought at SSR and our UY is February. I originally thought that it was based on UY but now I’m not so sure.. We originally bought in February 03 and then added on this year in March and our first payment isn’t due ‘til June 1st on the add on. The reason I’m asking is I want to do another add on and do the 120 point deal with the 100 free developer points and was wondering if my payments wouldn’t start until next June as the UY on those 120 points would be in February of 06.