Will my co-borrower be affected by "late" payments? made within 30 days?

So I have what is sort of a unique situation... My father is a non occupant co borrower on the loan for my house. I make all the payments, but a couple in the past few months have been late. Most have been within the grace period (i.e. payment due by the 1st, MUST be made by the 16th). Two or three payments however, were made after the 16th, incurring a late payment fee.. BUT the payments were ALWAYS made before being 30 days late. I have read that as long as the payment is made within 30 days, it does not show up on the borrowers' credit reports.

My question is this... my dad is now about to try to open escrow on an investment/rental residence... When the realtor applies for the loan on his behalf, will this cause a problem since all the payments were made within 30 days? Will the lenders even be aware that I made late payments, since based on what I've read the info shouldn't even be posted to his credit reports?

I would greatly appreciate any info you can offer me! Thanks!

1 Answer

The short answer is 'no'. Only late payments posted by the creditor after 30 days effect your score negatively. Craig Griffin W.J. Bradley Mortgage