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Home Questions Mortgages Will late mortgage payments on current home affect purchase of new home?
Will late mortgage payments on current home affect purchase of new home?
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July 13, 2010, in Mortgages

My husband and I have thought about selling our current home and buying a slightly larger home. We're hoping to make enough of a profit to put a substantial down payment on the new home. But I'm worried that if we sell our house first, we will not be granted a loan on a new home because of late mortgage payments on our current home. We're not behind in payments, just a few days late every month because of the timing of our paychecks. Also, our combined credit is not so great. Will we be able to sell and buy new? or will we run into problems?

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