What Is the Mortgage Origination Date?

Defining the Origination Date

The mortgage origination date marks the official beginning of a home loan, when the lender formally funds the loan and the borrower assumes responsibility to repay the debt. This date is typically the same day the final loan documents are signed and executed by all parties, or it occurs very close to it.

It signifies when the mortgage becomes an active financial obligation. Before this date, the loan is not yet in effect. The origination date transforms a pending agreement into a finalized, legally binding contract.

The Origination Date’s Role in Your Mortgage

The mortgage origination date defines the terms and timeline of your loan. It precisely determines the official start of your loan term; for instance, a 30-year mortgage begins its 30-year countdown from this date. This date establishes the duration over which your repayment obligations are scheduled.

Interest on your principal balance begins to accrue from the origination date. Every day following this date, interest charges are calculated, impacting the total amount you owe. This continuous accrual of interest means the loan is active and generating charges from its inception.

Your repayment schedule is calculated based on the origination date. This date dictates when your payments are due, ensuring the amortization schedule aligns with the loan’s start. Your first mortgage payment due date is typically set one month to 45 days after the origination date, allowing for initial processing and setup.

Finding Your Origination Date

You can find your mortgage origination date by reviewing specific loan documents. The Promissory Note, which is the legal document outlining your promise to repay the loan and its terms, is a reliable place to find this date.

Another key document where this date is prominently displayed is the Mortgage or Deed of Trust. This recorded document establishes the lender’s lien on the property and will also specify the loan’s start. For loans closed after October 3, 2015, the Closing Disclosure form provides a comprehensive summary of all loan terms, including the origination date.

For older loans, the HUD-1 Settlement Statement served a similar purpose and would contain this information. Your monthly mortgage statements also typically list the loan’s origination date, often in a section detailing loan terms or history.

Related Mortgage Dates

Understanding the mortgage origination date also involves distinguishing it from other important dates in the home buying process. The application date is when you first submit your formal request for a mortgage loan. This date precedes any approval or funding.

The closing date, also known as the settlement date, is when all final loan documents are signed and the property officially transfers ownership. While often coinciding with the origination date, especially if the loan is funded immediately, it is not always identical. Sometimes, funding may occur a few days after signing, particularly in certain states or with specific loan types.

The funding date is when the loan proceeds are disbursed by the lender to the seller or escrow agent. This date can sometimes differ slightly from the closing date if there’s a waiting period before funds are released. The origination date is when the loan terms, interest accrual, and repayment period officially begin for the borrower.

The first payment due date is the day your initial mortgage payment is scheduled. This date is typically set one full payment cycle after the origination date, plus any partial interest period. For example, if your loan originates on July 15th, your first payment might be due on September 1st, accounting for interest from July 15th to July 31st and then the full August payment.