If you're a first-time buyer currently renting, one of the biggest questions you may be asking is:

"When would I have to start making mortgage payments if I buy a home?"

And more specifically  - "Will I be stuck paying rent and a mortgage at the same time?"

That's a reasonable concern, and it's something many first-time buyers worry about when trying to time a home purchase around the end of a lease. But the good news? Your first mortgage payment probably won't be due as soon as you think.

Let's walk through a sample scenario to better understand the potential timing.

The Scenario: Lease Ends March 31, 2026

Let's say your current lease ends on March 31, 2026, which means your final rent payment is likely due on March 1.

Now let's back up.

If you find a house in mid-December 2025, that might feel a little early… right?

But actually - the timing might work out perfectly!

December 15: Under Contract

If you make an offer and go under contract on December 15, the typical closing timeline is often about 45 to 60 days. Because you want to avoid overlapping rent and mortgage payments, you might choose the longer end of that range, aiming for a February 15 closing date, about 60 days after the contract date.

February 15: Closing Day

When you close on February 15, you'll pay interest for the remainder of February at closing.

But -- and here's the part that surprises many first-time buyers -- your first mortgage payment won't be due until April 1, 2026.

Why? Mortgage Payments Are Paid in Arrears

Unlike rent, which you typically pay before the month begins, mortgage payments are paid after the month is over.

So:

• Interest for February is paid at closing
• Interest builds up through March
• First full mortgage payment is due April 1

That means -- in this scenario -- you'll finish paying rent on March 1 and won't make your first mortgage payment until April 1.

No Overlap, No Double Payments!

So, if your lease ends March 31 and you're thinking about starting your home search in December, you're not too early at all -- you're likely right on track.

Every situation is a little different depending on your lease terms so if you're starting to think about buying a home, let's sit down and:

• Review the specifics of your lease
• Explore a few timeline scenarios
• Talk through what would work best for your situation

Together we can likely come up with a solid plan for timing your purchase to align with your lease ending.