Not necessarily, if you've been late with your payments less than 3-times in the past year, and the payments were no more than 30-days late, you still have a good change at getting a competitive interest rate. Most lenders will accept certain reasons for this like an illness, or job-change, but explanations are required.
Polaris Funding Group, LLC IS A MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER
Company NMLS: 2540
201 S Biscayne Blvd 28th Floor
Miami, FL 33131
Phone: (800) 649-2420