The Mortgage Brothers Show

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If I have 1 Mortgage Late in the Past 12 Months, Can I Get Approved for a Mortgage?

05-13-2021About MortgagesEddie Knoell

In this post, we’re talking about mortgage rates and if you can qualify if you have a late mortgage in your payment history. This is a situation that happens to a lot of folks, and we get calls all the time asking this question. In short, absolutely. It’s still possible to get a mortgage if you’ve been late on one in the past. There are lots of reasons people are late. Sometimes the bank is miscommunicating their payments, sometimes it’s a technology issue. It’s not always in your hands.

What does the underwriter look at when it comes to approving you?

Well, the first thing they’re going to be looking at is your full credit report. Unfortunately, the truth of the matter is, if you have a lot of late payments, if life has been tough financially, and if you haven’t been able to make car payments or house payments, your credit is going to be low. But, if your late payment is an isolated event and you have one late mortgage, possibly two, and everything else is okay on your credit, chances are you’re going to get approved. Basically, they want to know you’re reliable. How would you feel if you were in their shoes?

How does the FHA handle late payments?

FHA financing is pretty tolerant. With them, you can have no more than two 30-day mortgage lates, which is when you make a payment right after the 30-day due period. Now, if you have a 60-day late, which is when you let 60 days go by and then you make a payment, you’re going to run into a problem, since there are no programs that allow you to get a mortgage if you’ve had a 60-day late in the past 12 months.

How does Conventional Financing handle late payments?

Conventional Financing is a bit stricter than FHA. They only allow for one 30-day late. However, you are not guaranteed to be approved if you’re under this line, but you will be eligible as long as you don’t have no more than one 30-day late.

How are VA Loans impacted by late mortgage payments?

VA loans have the same policy as Conventional Financing when it comes to past late mortgage payments. You can only have one 30-day late.

Eligibility vs. Approval

Just because you are eligible, does not mean you’re guaranteed to get approved for the loan. This is something that holds true for all these types of financing. If you have any questions about this, be sure to reach out at (602) 535-2171. We’d love to answer any questions you might have.

In Summary

With FHA allowing for two 30-day lates, versus the one for Conventional and VA, they’re the most lenient. Our advice for borrowers is, when you call a lender, be real honest and up front if you have any mortgage lates. This will help us point you in the right direction and you’ll be less likely to run into any trouble down the line.

If you have any questions about this or if you have any questions you’d like us to answer on our podcast, you can email your questions to or give us a call at (602) 535-2171. Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.


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Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.

Signature Home Loans LLC does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Signature Home Loans NMLS 1007154, NMLS #210917 and 1618695. Equal housing lender.