Late payments

[Anonymous]

My husband is going to apply for a new mortgage next January (we rent now).  We have had a lot of lates in the past on 2 vehicles and a credit card because of a major illness which can be explained to the lender.  At the time of application all lates will be 12 -16 months behind us.  How do they look at someone that has a lot of lates for a good reason but has been current for more than a year?  Thank you!

[Anonymous]

It probably depends on the type of loan and the lender you go with. What kind of loan are you thinking ( conventional, VA, FHA) (fixed, jumbo, etc) 

[Anonymous]

We are hoping to go FHA or if not then maybe conventional (I have not looked into conventional if we can even qualify though).

[ShanetheMortgageMan]

With 12 months of clean credit you should be good for FHA.  Will probably have to explain why there were late payments, but out of all reasons, underwriters are most understanding about medical.