Mortgage Glossary
Delinquency
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Delinquency is the state of being past due on a loan payment, beginning the day after a missed due date.
What Delinquency means
Lenders report delinquencies in 30-day buckets: 30, 60, 90, and 120+ days late. Each stage does more damage to your credit and moves you closer to default and foreclosure.
Florida example
A single 30-day delinquency can knock 60–100 points off a Florida buyer's score and may delay a mortgage approval. Most loan programs require 12 months of clean payment history before approval.
Related Mortgage Terms
Still have questions?
Talk to a licensed Florida mortgage broker — no cost, no obligation.