Housing History

What is Housing History?

Housing history is the lender’s shorthand for how reliably a borrower has paid mortgage or rent over a recent window. It captures two things at once: how many late payments occurred, and how late those payments were.

Format: [late30s] x [late60s] x [months]

A “30-day-late” (late30) is a payment received 30+ days but less than 60 days after the due date. A “60-day-late” (late60) is 60+ days late but less than 90. Once you cross 90 days, you’re typically into mortgage charge-off and credit-event territory. The third number is the lookback window — almost always 12 months.

So 0x30x12 means zero 30-day-lates and zero 60-day-lates in 12 months — the cleanest possible record. 1x30x12 allows one 30-day-late but no 60-day-lates. 0x60x12 means no 30-day-lates but at least one 60-day-late occurred — counterintuitively worse than 1x30x12 because of the deeper delinquency.

How Housing History works at Total Quality Lending

On Total Quality Lending’s DSCR program, a 1x30x12 housing history is allowed with no LTV reduction — the program treats one minor late payment in 12 months as effectively immaterial. A 0x60x12 history caps LTV at 70% on purchase. Anything worse becomes an exception/case-by-case decision.

On the Prime Time non-QM program, the standard housing-history tiers are: 1x30x12 unlocks the full LTV matrix; 0x60x12 caps at 80% purchase / 75% refinance and $1.5M loan; 0x90x12 caps at 70% purchase / no refi / $1M loan. Rental history can substitute for mortgage history via a Verification of Rent or 12 months of cancelled checks. On multi-unit DSCR loans (5–8 unit residential or 2–8 mixed-use), the standard is 0x30x12.