If i am refinancing my house we just locked in a rate of 4875 todayyoohoo?

Alphonse
How long before we have to make the first payment? Will we have to pay our current mortgage on the first of next month like always?

Flor
So by your locking in your rate, I can conclude that you have not received your loan docs for signing. When you do receive your loan docs for signing then you will have a 3 day right of rescission. As far as making your next months mortgage payment, you might want to call your escrow closing officer for advice on this subject. They will know the closing date as well as when your interest will be paid up to with this transaction.The key to a good closing is that you stay in constant communication with your closing agent as well as your loan consultant you are using for your refinance.Normally after a refinance you would have approximately 45 days to make your first payment to your new mortgage lender. I hope this has been of some use to you, good luck."FIGHT ON"

Burton
Congratulations on the great rate.You'll have to pay your mortgage on the first of the month. As the first answer says, it'll be your current one, if you haven't closed yet; otherwise, it'll be your new one. You'll get guidance on that when the actual refinancing occurs.

Arron
if you have not closed by then you may