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If you're considering an ARM, you'll want to check out HSH's comprehensive Guide to Adjustable Rate Mortgages.

If you're considering an ARM, you'll want to check out HSH's comprehensive Guide to Adjustable Rate Mortgages.

On what day of month are home mortgage payments usually due and when late?

There's no specific answer to your question except "check your mortgage statement."  It's reasonable to expect that a payment is due on or about the first of the month. Many mortgage lenders don't consider a mortgage payment "late" (where a late fee is charged) for up to 15 days past the due date.  Late payments beyond 30-days overdue are usually reported to a credit bureau and can start to damage your credit score, so you'll want to avoid this if you can.  If you are struggling making payments on a one-time or short-term basis, you should be proactive, making contact with your servicer to mitigate any damage to your credit. If you are having persistent trouble, you might consider a loan modification.

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Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
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