how much does having 1 30day late mortgage payment affect my credit?

Question

I have 1 30 day late payment on my mortgage because my payment got bounced due to incorrect account number given by phone and I didnt' realize this until after 30days, which by then they had reported it to the credit bureaus. Overall I have excelent payment history, I own 2 homes, 2 cars, 4 credit cards. All my creidt cards have 0 balances except for 1 which has a 80% balance.

Answer 1

depending on everything else, it could mean about 30 points

Answer 2

There's not an exact number since the formula which calculates the score is based on many factors. I hate to tell you this, but one 30 day late affects a person with great credit (as much as 100 points) more than it effects someone with bad credit. The bureaus look at more recent payment history (within the last two years) and weigh that performance more than they weigh previous payment history (over two years old).

Answer 3

There will be no significant impact. As long as you are not behind on a regular basis then it will not affect your FICO score. It may not even show up with the credit bureaus even though the lender stated that it had been reported. It is usually 45-61 days of non-payment before it is truly reported.
Happy Holidays!

Answer 4

A 1x30 can hurt. If you wanted to refinance your mortgage, you'd have to wait a year before you could be considered A++ credit to mortgage lenders. As far as dropping your credit score, the effect isn't that much, but it's there.

Answer 5

If you have 1 late payment, it probably won't drop your score significantly. There is no way of telling unless you get your actual FICO score. However, to me it doesn't sound like you'll be needing a loan any time soon, so why worry about it.

Answer 6

dispute it - www.annualcreditreport.com
after 6 months it should not hurt you