In my early twenties I struggled with money and work. I had 2 loans I defaulted on and went to creditors. I have recently been able to pay them off in full.
During the time I had those 2 loans. My bank was willing to give me a car loan for 40000. I have never missed a payment and always pay a little extra. It's been 2 and a half years on that. I now only owe roughly 8000.
I now make roughly 100k to 110k a year. Taking home 5000 to 6000 a month. I only have my car payment off 500. I usually pay 750 a month. The only 2 other bills I have are my cell and my car insurance, which only total another 200 a month.
Am I going to have a hard time getting a mortgage? I'm applying is week. My banker said I should be okay. But how much will my bad credit effect me if it's paid off, and my other loan is perfect?
Read more: Mortgage and a bad credit score?
