When do you pay your mortgage 1st or 15th of month?
I’ve always paid the mortgage on the 1st of the month, but after this purchase, was horrified when I realized I’d missed the 1st, so drove to bank on 6th – the woman who sold us the mortgage said it’s not due til the 15th of the month? Statement says due 1st, late fees after the 15th – so is there any benefit to pay it on 1st or should I wait til the 15th every month? We pay all our bills on time, and had outstanding credit (800’s), until we had to take unsecured loans to sell our house, our credit rating went into 600’s then. Will paying on the 15th affect our credit rating? Get paid every 2 weeks, so would be nice to put $ toward other bills – since a lot are due at the end of the month, and then pay mortgage out of next check – but don’t want it to affect credit rating.
FYI – I have all our bills (or at least the ones I can) set up on auto pay, it goes directly from our checking to the payee on that date. It was our first mortgage payment that I drove to the bank it was 2 weeks after moving in, so I hadn’t set up the auto pay yet.