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Roggej68

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Can I get approved for a mortgage loan with a charge off?
Hello, so I decided to finally start saving for a downpayment on my first house. I know that this will take about a year or so, but I just had a few questions on qualifying for a mortgage. Back when I was in college, I had a credit card and was not smart about how I used it. I started missing my monthly payments and the late fees started tacking on. I could not afford to pay it, so I just let it sit there for a few months. It wasn't a huge debt, I think it went up to about $1200 on a $1000 credit limit. Anyway, the account went into a charge off, and I ended up paying the entire debt in full after I graduated from college, which was a few months later. It has now been about 3 years since the account has been closed and I have been working to increase my credit score. I have had no other negative remarks on my credit report, and I have been paying my credit cards and student loans without missing any payments. My transunion credit score is currently a 694. Does anyone think its possible to qualify for a mortgage or have any advice for me? That would be greatly appreciated

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I don't see it being a major problem, sure with some lenders it may be, but I think many will overlook it since it is aged and paid off and you have current lines of credit that you are paying responsibly.

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