Definition of opponent for English Language Learners. : a person, group, etc., that is against something (such as an action, law, or system) : someone or something that does not want something to exist, be done, etc.
Generally, your first mortgage payment is due on the 1st day of the 2nd month following your closing date. For example, if you close in February, your first mortgage payment will be due on Aproil 1st. Generally speaking of course.
So even though your mortgage payments are technically due on the first each month, you can pay as late as the 15th every month without any kind of penalty. This is known as the âmortgage grace period,â similar to other grace periods you see with all types of other loans.