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New Contributor
Posts: 51
Registered: ‎10-02-2012
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How likely is a lender to look past student loan lates?

I have some 120 day lates on my sallie mae student loans. I am now enrolled in autopay and have been in good standing since August, but it has been reported as ND since may. If I continue to make on time payments for a year or so will a lender look past the 120 day lates?

Posts: 85
Registered: ‎11-30-2011
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Re: How likely is a lender to look past student loan lates?

Depends on how many you have. 


I had an isolated incident, thought my account was in forbearance, but wasn't.  Wham, a 90 day late shows up.  It was an isolated incident, and my LO said it was not a deal killer and just asked for a LOE and that was it.

MyFICO Pulled: (11/28/2012) EQ 635, TU 650, EX 661
Lender Pulled: (12/05/2012) EQ 635, TU 677, EX 641
Lender Pulled: (02/20/2013) EQ 667, TU 661, EX 648
MyFICO Pulled: (05/30/2013) EQ 712, TU 685, EX 686

Finally Hit the 700's as of 06/05/2013!!!
New Contributor
Posts: 74
Registered: ‎06-11-2012
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Re: How likely is a lender to look past student loan lates?

Different lenders and loan programs have different requirements. My lender didn't allow any lates within the past 12 months. 

Starting Score: EQ 559 (June12)
TU 651 (spouse) (June12)
November12 score (Equifax myfico):
Me: 646
Spouse: 691
Getting ready to close on our first home Smiley Happy
Valued Member
Posts: 42
Registered: ‎04-09-2011
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Re: How likely is a lender to look past student loan lates?

It really does depend on the lender.  My wife had 8 - 120 day lates with Sallie Mae from Feb 2011.  She thought that her student loans were in deferment but they were not.  However, we apped for our house at the end of October of this year and just closed on 11/30!  The lender didn't even ask for a LOE for any of them!!!!!

New Contributor
Posts: 51
Registered: ‎10-02-2012
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Re: How likely is a lender to look past student loan lates?

Wow! thank you. I guess I will just wait and see. I'm going to keep a good clean credit profile for a year before I even apply, so hopefully by then I will be fogiven for my mistakes.

Regular Contributor
Posts: 118
Registered: ‎08-13-2012
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Re: How likely is a lender to look past student loan lates?

I had some 120 day lates on mine and they never even asked about them. They were about 18 months prior to closing.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!

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