DiscoverThe Mortgage Brothers ShowIf I have 1 mortgage late in the past 12 months can I get approved for a mortgage?
If I have 1 mortgage late in the past 12 months can I get approved for a mortgage?

If I have 1 mortgage late in the past 12 months can I get approved for a mortgage?

Update: 2021-05-11
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FHA

-        If the loan is a purchase or a rate and term refinance, the client cannot have more than 2 X 30 lates in the past 12 months from the application date.

  

Fannie & Freddie

-        The client cannot have any 60 day lates in the last 12 months prior to the date the credit report was pulled through closing.

-        Borrower can have 30 day lates within the last 12 months but we need Approve/Eligible

  

VA

-        The client cannot more than 1x30 day late payment in the past 12 months from the credit report date but we need Approve/Eligible

 

 

 

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If I have 1 mortgage late in the past 12 months can I get approved for a mortgage?

If I have 1 mortgage late in the past 12 months can I get approved for a mortgage?

Eddie and Tom Knoell