06-18-2012 12:52 PM
My wife and I are planning onapplying for an FHA loan the begining of July. I read a couple of threads from a couple of years ago that said if there was even a single late payment made to an account within the last 12 months you will not get approved for an FHA loan. My August, July, and June payments in 2011 were late on my car payment. In Septemeber I paid the account off in full, though. Do you think because this will only be 11 months old and not yet 12 months old it will affect my chances of being approved? We are planning on closing in August, September, or October if we find a house we love so this would make it over 12 months old. Any opinions would be great! Thank you!
06-18-2012 02:29 PM
I would say go ahead if it was just 1 late, but since it was 3 in a row, I would wait until all three were 12 months old, just my opinion personally
11-06-2012 01:00 AM
If you don't mind me asking,how did this turn out? I have lates as well,just wondering if they were an issue.Do you mind me asking what lender you went through?
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.