Will late payment affect our loan application?
Hi, I am freaking out at the moment because I saw a late payment on my credit report. It was a water bill payment and looks like my husband paid a month late. We are applying for a mortgage next month and I worry that this might affect us. Been working hard to buy a home and any setback can be heartbreaking. Am I over reacting? by regine499 from Phoenix, Arizona. Dec 27th 2022
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions
Hi Regine499 - It depends, most water bills don't report on your credit report unless it's a collection account. If you're using boost to report your utilities to improve your credit, consider removing the water bill or contact them and ask for a 1 time courtesy delete of the late payment. | John Burke | Senior Mortgage Banker | Lending in ALL 50 states | www.yourtexasmortgagelender.com|Stride Bank | jburke@stridebank.com | (877)228-9069 | NMLS# 787231 |
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