If you have medical collections the odds are they won’t keep you from getting a mortgage.
It’s true that generally collections of any kind are bad for your credit score.
…However, from a mortgage underwriting perspective – if you have Medical Collections that are over 12 months old – they will be ignored for the most part by the government insured loan programs. …such as VA and FHA.
Fannie Mae and Freddie Mac underwriters will pretty much stick with what the automated findings come back with… …and, I can tell you that the automated system will generally ignore these older collections.
So, if you have Medical Collections… Don’t fret! …Generally they won’t keep you from getting a mortgage!
To see if you would qualify for a mortgage right now just fill out this simple application.
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REMEMBER: I can do FHA loans now down to 500 credit scores – read this blog post to learn more…
Have a good day today! …and thanks for reading.
Brett
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