topic Re: Coneventional loan in Mortgage Loans

Coneventional loan

Anonymous — Wed, 07 Apr 2021 00:21:26 GMT

Hi,

i was looking at trying to get a conventional loan because fha loan max is kind of low where I'm at. Problem is we have quite a few late payments from 2019 and most recently 2020 from a company never telling us the remaining balance owed.

Will these late payments hinder it? Is there anything I can do to make the odds better?

All accounts have been settled and our DTI is good, income is good, job history and length of credit are good.

Re: Coneventional loan

Mortgage-Specialist — Wed, 07 Apr 2021 00:54:50 GMT

What are your mortgage scores and what % are you putting down (for down payment)?

Re: Coneventional loan

Anonymous — Wed, 07 Apr 2021 01:13:24 GMT

Middle score is 622 and we plan on putting down 5%. The late payments are a year old now as well.

Re: Coneventional loan

Mortgage-Specialist — Wed, 07 Apr 2021 01:14:59 GMT

That's gonna be tough one. Possible but tough