Trying to get a loan with a late payment on previous loan.

[Julio Vazquez]

I am in the process of trying to buy another property. The problem that I am having is that 4 months ago I had switched banks but continued to pay my mortgage from the old account. I realized the issue and caught up  with  the mortgage the following month. But the mortgage co still reported me as late 30days. Now I am having trouble getting a conventional loan and was told by two brokers now that I would have to wait for a year for that mistake to get off my credit report.  I have had the loan for 3 years and this was my only late payment.

Is there anyway around this? I live in Philadelphia, Pa and house prices keep rising and I do not want to wait so long. The loan that I paid late is for an FHA loan so applying for another is out of the question. Thanks in advance.