PAYDAY LOANS IF PAID BACK IN TIME WILL NOT AFFECT YOUR CREDIT RANKING
DO PAYDAY LOANS AFFECT GETTING A MORTGAGE?
HOW DOES A PAYDAY LOAN AFFECT YOUR CREDIT RATING?
Many other factors including payday loans paid later than the payday date as well as going overboard with the bank account limits would show mortgage companies trend of late payments and non maintainence flags in your credit rating. If your application is otherwise healthy and free of any other kind of flags then it is very unlikely that the lender will solely reject your application on the basis of payday loans. It is thus advisable that you do not apply for any kind of loans at least 6 to 12 months prior to your Mortgage application, particularly loans with high rates of interest like payday loans. This will increase your chances of getting your mortgage application approved as well as will keep your credit rating clean.