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Updated over 1 year ago,

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2
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Anthony Taitt
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Show stopper 30 days before closing?

Anthony Taitt
Posted

I am purchasing a new construction home from DR Horton and going through the loan process with DHI Title company. Everything has been going smooth so far until I received a 30 day late notice from my auto loan today. I’m due to close in about 30 days on august 31st. This late payment was an honest error, I have been unusually pressed financially trying to pull together everything for down payments and back to school that I had been a little behind so I to split my auto payment this month. I paid 80% of it before the due date but only 150$ remained. I lost track of the second payment and received the 30 day delinquency. Prior to the home buying process I have made all other payments to my auto loan on time and has remained in good standing throughout the lifespan of the loan so far. Other than this one new item I have no other issues with my credit and loan profile. Im not entirely confident my auto loan servicer would remove the delinquency but I’m going to try that. Other than that I will have to write an explanation letter to my underwriters I’m sure. Does this type of thing disqualify me for my loan? I’m a first time home buyer. Pls help!

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