Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Late Charge Late Charge November 9, 2021 The penalty a borrower must pay when a payment is made after the stated due date.You Might Also Like: All Things CommunityReviewing Random Acts of Kindness 2023 Everyday MoneyWhat are ACH Payments and How Do They Work? Family MattersFun Games to Teach Kids About Money Everyday MoneyWhat is the Difference Between a Credit Card and a Debit Card? Family MattersBudget Friendly Easter Basket Ideas