Not necessarily, if you've been late with your payments less than 3-times in the past year, and the payments were no more than 30-days late, you still have a good change at getting a competitive interest rate. Most lenders will accept certain reasons for this like an illness, or job-change, but explanations are required.
We've been helping customers afford the home of their dreams for over 29 years and we love what we do.
Company NMLS: 237492
9042 Garfield Ave. #307
Phone: (714) 420-3712