Home Buying in Peoria>Question Details

Kathy L, Home Buyer in Peoria, AZ

Will one late rent payment (in Aug, '07) over the span of the last 2 years affect my mortgage application?

Asked by Kathy L, Peoria, AZ Sun Apr 5, 2009

I have been in my current apartment complex since 5/07, and due to a mixup in 8/07 the management lost my check and my rent was billed as overdue. I immediately paid the rent due along with a fee, but now there is a late payment on my record. (My payments before and since have been on-time.)

I just found my dream home and am in the process of applying for a loan. Is this one late payment going to impact my ability to get a loan, and if so, is there anything I can do about it? I have excellent credit, a low debt/income ration, and prior to this incidence, 14 years of on-time payments through all the complexes I've lived in. My lender asked for my landlords contact info, so I assume this is going to come up at some point.

Thanks for the help!


Help the community by answering this question:


Hi Kathy,

Was this payment more than 30 days past due? If not, you have no worries on this issue. If you were more than 30 days late, you are renting in an apartment complex & I highly doubt your payment history is being sent to the credit reporting agencies where this oversight on behalf of your landlord will show up on your credit report.

Your lender may be doing a verification of rent, verifying you lived there for the period of time stated & that you were not 30 days late on any of your rent payments.

Sleep tight,

Roswell Moore, CMPS
Certified Mortgage Planner
(480) 422-5095 Direct
Web Reference: http://www.ezAZloan.com
0 votes Thank Flag Link Thu Jul 30, 2009
This could come up, but as long as you can explain it or have proof that you have paid everything since on time they should not let this one thing come in the way of getting you a loan. You can always ask your lender and see if it is on there and see if it can be removed so this won't come up in your future.

If there is anything else I can help you with don't hesitate to call.
(623) 414-3388
0 votes Thank Flag Link Thu Jul 30, 2009
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