By refinancing with VA Lending Group you receive the benefit of missing your next 2 mortgage payments. The 2 payments missed are always the current month we close in and the following month.
This is a huge benefit, BUT it sometimes leads to confusion on when to make your payment and when to hold off. At times this confusion during an easy refinance process can feel a little stressful.
We don’t want that to happen! It is very simple. As long as we communicate and set your expectations up properly then most if not all stress will go away.
Mortgage Payment FAQ’S
When is a mortgage payment late?
The answer is black or white. It is either 30 days late or not late at all. You cannot have a 15, 20, or 29 day late on your credit. Just review a credit report to see there are 3 columns indicated when someone has been late. 30, 60 & 90 days.
What about that fee (late fee) they charge after the 15th?
After the 15th, all lenders charge an extra fee so that you are motivated to make your payment towards the beginning of the month and not at the end, BUT this does not mean you are late if you exceed the 15th. This is a mortgage credit law. It is the same with every lender across the board.
Trust me, at VA Lending Group, we value your credit and your financial goals. We want to put you in the best financial position possible.