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Frequently asked questions

I’m refinancing, do I have to make my current mortgage payment?

It depends on when your refinance is scheduled to close. Mortgage payments are generally due on the 1st of the month, and most do not incur late fees until after the 15th. If you don’t make your current mortgage payment and your loan refinance is funded very close to or after the 15th, you may be charged a late payment fee by your original lender. Ideally, you’d want to avoid being charged this fee.

To get all the information you need to decide whether to make your current mortgage payment, speak to your Better Mortgage Home Advisor. They can explain everything you need to know based on where you are in the closing process.

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