I'm looking to purchase a new home. My little concern about my credit because of a student loan charge off 4 years ago. I was unable to make the mimium payment and it ended up being charged off. I currently make payments on the loans on a payment arrangement however it still reports charge off on my credit. Can I still qualify for a home loan ?
It would depend on your credit score. Having a 4 year old charge off isn't the worst thing in the world. The lender may ask for an explanation but as long as the money numbers and credit score works, you should be in good shape.
