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  • Scott Sheldon
    • Scott Sheldon
      Senior Loan Officer
      NMLS ID# 287389
      Direct: 707 217-4000
      Scott.Sheldon@nafinc.com
      Specializing in Residential Home Loans for Primary Residences, Second Homes, Investment Properties, Single Family Homes, Condos, PUDs, 1-4 Units.

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Can I buy a house if I have a rental late payment?

January 2, 2015 by Scott Sheldon

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No you cannot have a rental late in the last 12 months if you are gunning to buy home. Mortgage lenders may do what’s called a verification of rent (VOR)-to make sure you have not had a late payment in the last 12 months if you have this very well might derail your loan.

Additionally, landlords are reporting rental obligations on credit reports. If your landlord posts this to your credit report not only could it hurt your chances for getting a mortgage but it could also drop your credit score. Need some home buying guidance?

Start today by getting a complementary rate quote!

 

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We are looking for an experienced, energetic, fun and dynamic individual to join our Santa Rosa Branch for New American Funding.

This person would be have specific recent mortgage experience, know the loan business including guidelines and be willing to go the explore mile. If you know someone like that please feel free to message me.

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@stylemyheart @newamericanfunding #talent #hiring #fun #talent #looking #team #crew #building #family #santarosa #sonomacounty
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Scott Sheldon, Senior Loan Officer
NMLS ID# 287389
1450 Neotomas Ave Suite 115
Santa Rosa, CA 95405
1-707-217-4000
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