Two separate clocks run here: about seven years on the credit report, and a much shorter window that matters for a new loan. On the report, a late payment stays for seven years before it falls off entirely. The score damage fades much sooner. Healing starts once the late is about 12 months old, improves again around 24 months, and continues until the item drops off. A 30-to-40-point jump the month an old late finally ages off is common. On eligibility, the rules focus on recent history: - Most automated-approval programs will tolerate a single 30-day late within the last 12 months. - A 60-day late, or more than one 30-day late, in that same window can block an automated approval and force a manual underwrite or a decline. - Late payments on a current mortgage are weighed especially heavily. Those thresholds change, so confirm current guidelines for your loan type. The practical takeaway: time and clean recent history heal this. If a recent late is the issue, letting it age past the 12-month mark before you apply is often worth the wait. A soft-pull review will show exactly where you stand.