Is It Possible to Make Late Payments on a Mortgage?
Updated 21 days ago (March 6, 2026)
Yes, it is possible to make late payments; however, paying late is not advisable if you can avoid it. If you are only late on your mortgage payment by a few days, it's usually not a major problem. Most lenders will give you a grace period after the payment due date. Typically, this grace period will be about 15 days, although you should confirm with your lender what your grace period is if you anticipate being late on a payment.
After the grace period has passed, there are several potential scenarios. First and most commonly, you can expect to be charged a late fee, which is usually 5% of the principal amount paid in each installment (although for some loans the late fee may include the interest as well). Second, your credit score might decrease, since you officially incurred a financial penalty. This drop in your credit score will only occur provided that your lender reports you to the credit bureau. With a lower credit score, it will be more difficult for you to gain access to credit in the future. Third, if you go for more than 90 days without completing your late payment, your lender will be likely to start a foreclosure procedure against you, after filing for a Notice of Default.
Financial Disclaimer: Tellus provides this content for informational purposes only. This is not financial advice. Financial returns and mortgage terms vary based on individual circumstances and market conditions. Consult a qualified financial advisor before making financial or borrowing decisions.