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Conventional loan with lates 24 months ago

khloebird
New Member

Conventional loan with lates 24 months ago

Hello! We my husband and I got pre approved for a Lina and offered on a house. My question is I have a few 120 day lates on Student loans from 3 years ago they came out of deferment and I didn’t know. I have a 670 score and I’m up to date and paid ahead on them now. I am terrified it will not be approved through underwriting. I’ve missed one payment in 24 months on a car loan which was bc of the dealership not paying the loan off in a timely manner. Any advice should I be worried, if we can’t get a conventional can we get an FHA? Our DTI is fine.
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1 REPLY 1
Mortgage-Specialist
Established Contributor

Re: Conventional loan with lates 24 months ago

Dont waste your time worrying - you have nothing to worry about. Yes, you can easily switch to an FHA loan if they needed you to but extremely doubtful that would be necessary. If initially preapproved, they wont deny you from those old lates.
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