Mortgage - Questions Regarding Late Charges

If your payment doesn’t arrive in our loan servicing area by the due date, it is considered late. You may have a grace period before a late charge will be assessed to your loan account, usually 15 calendar days.

Late charges are assessed per the terms of your mortgage loan note, usually assessed on the 16^th day following your due date. For example: if the payment is due on the 1^st of the month, and the payment is not made by the close of business on the 15^th, the late charge will assess overnight on the 16^th   

• Your payment is due in our loan servicing area on or before the due date. It is considered late the following day.