If you've been missing your payments regularly and have been more than 30 days later on some of them, you'll experience negative hits on your credit score. (gocleancredit.com)
If something negative hits your credit report and lowers your credit score, it could push you outside the lender's qualification guidelines. (homebuyinginstitute.com)
This particular negative hit to your credit will have less effect over time and will have little impact after two years or so of positive information (always on - time payments, decreasing revolving credit balances, etc.) added to your credit report. (creditcards.com)