deliquent medical bills on credit report

Medical bills and collects may be over looked in the pre approval process. FHA has the most relaxed guidelines when it comes to medical collects. Your best bet is to state the process with a local mortgage lender; as the financing process is mostly based on your credit scores. If your credit credit scores are lower then the min credit guidelines then you will need to look into credit repair. Any and all collect can bring down your credit scores, the best way to increase your credit scores is to pay off the bad debts.

If your scores are OK (we currently go down to 500 mid score) and you have enough down payment, you should not have an issue. Feel free to reach out to us. We will Pre-Approve and quote your loan for free. Satori Mortgage - www.SatoriMortgage.com - 952-544-1706 - info@satorimortgage.com

The medical debt may not hurt your chances but the cost it had on your scores could. We can omit medical collections, as long as they have not become judgements. They are still collections and will probably have effect the credit scores.

Medical bills are typically ignored, but if they have drastically lowered your credit score, you might want to deal with them, but if not, then you should be ok. To know for sure, you should contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

At this time do not pay off any medical bills or collections. When you do this your credit will update and then your credit score could be negatively affected. FHA loan particularly will overlook medical collections and Conventional loans will also depending on the age of the medical collections. Every borrower and their credit is unique but I typically see where the automated engines that evaluate your loan will not require them to be paid. You should check with a qualified mortgage professional in your area so that they can evaluate your specific situation and needs.