What is the possibility purchasing a home when I had an over ninety days late payment on my credit report on my previous homeloan?

The answer lies in how long ago it was. Most of our investors only care if it was in the last 12 months. I'd be happy to help you qualify. You can apply on-line or call me direct. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

When it comes to getting approved for a mortgage, it's the complete profile the lender is concerned about, not an isolated incident.. If the "Over 90 Day Late Payment" was a mortgage payment, it can be tough.. But if it's the only bad mark on your credit then it can be overlooked.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. 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

When was the last late? What was the date?

If that was within the last 12 months you are not likely to be approved, longer than that will depend on all the other details of your application and the kind of mortgage you are applying for.

Generally speaking, it that was in the past 12 months - you're odds of slim to none. If over 123 months - your odds are pretty good. In MN or WI, visit www.MNBestRates.com

The only thing I would add to the comments explaining you want a 90 days + late to be over 12 months ago to have any chance in qualifying for a conventional or government loan,is you could take action to try and get the lates removed or down to one 30 day late, fromyour credit report. It is not easy, but may be possible.Generally to get late payments removed from your credit report you need to persuade someonethat it was their company's fault. Some people involved with working to get derogatory items removedfrom a credit report say their is a way to get some of these removed via a process that takespersistence. Obviously, in most instances, I think, if your were late on payments they are not going to remove them.It does not hurt to try a phone call, and perhaps ask for a supervisor if necessary, and see if it is possibleto get any or all of the lates removed from your credit report.