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if I was recently late on 3 different credit cards over 30 days how long do I have to wait to re-apply?

by dschroeder482 from , California. Mar 19th 2018 Reply


Hello there are many different factors that are unknown variables in this equation. Like credit card limit and credit usage how many total cards and length of the accounts. The formula to give you a precise answer is but against alot of factors. If you would like to discuss more in detail we will be happy to help you move forward and answer any and all questions. Contact us at www.onlinemortgagesource.com thank you and have a great great day!!

Mar 19th 2018
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,817 contributions

Re-apply for a mortgage? How much those late payments hurt varies based on a lot of different factors. Were you an 800+ credit score before that, or something much lower? If you were a high score, you may still be OK for financing today. Brand new late payments kill your credit for awhile. The scoring model doesn't know if this was a one time oops, or the beginning of major issues, so it takes awhile to pop back up after it determines this was a one time event. All you can do is how your Loan Officer run new credit to see where you sit.

Mar 19th 2018
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,486 contributions

More info needed, but in general.. being late on a credit card in itself wont disqualify you for obtaining a mortgage.. However, credit scores are driven on the most recent data.. so being recently late could have dropped your score(s) below the minimum qualifying required credit scores. If you want to know for sure, feel free to reach out to me..we can look at your complete profile and find the best loan for your scenario.. Understand that depending on the location of your home, certain loan products have cap's on Loan Level Price Adjustments (LLPA's).. so, it's possible that even if your scores have gone lower, it wont be a huge difference in the rate you qualify for. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Mar 19th 2018
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