Will student loan baddies hurt my chances of buying a house?

[samahok]

Good morning Fico family, I am just curious about getting a mortgage in two years and wanted to know if a some 120 day lates on my student loans will kill my chances of getting a mortgage.  The lates came right after I graduated so I had no job, but all paperwork had been going to an old address and back then my mindset was out of sight out of mind.  Had I been a little more diligent and applied for deferment at the time I wouldnt be in this predicament now.  However, whats done is done, but now I have 5 accts showing 90-120 day lates from 5 different student loans.  Date of first delinquency is 4/12 so they are still pretty recent and wont be falling off until 4/19.  My question is, will I be able to apply for a mortgage in the next two years or do I need to wait until those accts fall off of my report?  My current fico scores are right around 670-680.  I try to keep my utl under 30%, my payment history has been perfect on all of my accts since those lates, and have helped me to raise my score almost 100 pts since I began my credit journey a little over a year ago.  I did just go on a recent app spree and was approved for everything that I applied for, and was planning to wait until those fell off before I began looking to buy a house.

Will I be able to even qualifty for a loan with those baddies?  Or am I better off waiting until 2019?  Right now my anual income is right around 70k and I have a 45k in dept, 35 of which are student loans and the other being my car (but company pays for).

Thanks in advace for any advice someone may offer.

Edit: 

Source of income- Employed almost 2 years full time w-2

Monthly dept payment:  $400 student loan $300 car (company gives me allowance for)

No assests, 3k in savings, 2k in checking, no 401k

Honolulu, Hi 96813

Primary residence

Looking to purchase a single family home or condo

[ShanetheMortgageMan]

You shouldn't have to wait until they fall off credit.  Most likely you'll be fine once they have aged 12 months old, worst case with a conservative lender it'd be 24 months old.

Unless your company co-signed the car loan for you, them making the payments won't exclude the car payment from your debt ratio.  However if they've been paying you a car allowance (instead of making the payment directly) then with a 2-year history of receipt then you can use the additional car allowance income to help you qualify.

FHA financing would require 3.5% down, and conventional financing would require 5% down (up to a $417k loan amount, meaning a $438k sales price).  FHA allows you to qualify for a little more than conventional does since it allows for a higher debt ratio to qualify.  USDA financing is also available on Oahu, which is 100% financing in rural areas.. but that'd eliminate Honolulu, Waimalu, Pearl City, Waipahu, Wahiawa, Kailua, Kaneohe as options.

[samahok]

Thank you so much for your response!! That gives me hope, and I will continue to let those age and start saving more. Hopefully in a year or so my credit will be up a little higher.

Thanks again