It's certainly possible, but I'd need to know more about your situation to give a definitive answer.....for example: How big is the charge off? What other open tradelines show on your credit? Does your debt to income ratio meet current lending standards? In general, smaller charge offs do not keep otherwise worthy buyers from purchasing homes. In fact, paying off old charge offs can sometimes LOWER credit scores by making an old event (the charge off) appear more recent (paying of the charge off changes the "date of last activity" on the account. I always advise my clients to speak with me BEFORE paying off any charge offs in order to avoid potentially damaging their credit.