Home Buying in 32503>Question Details

posey4015, Home Buyer in Atlanta, GA

Do having Medical bills on your credit hurt your chances of getting a home loan?

Asked by posey4015, Atlanta, GA Thu May 9, 2013

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5
Frankly this is a question that needs to be answered by a financial expert. Most of what I have heard is through conversations trying to get a client pre-approved. It is my understanding that you take less of a credit hit from medical bills than other types of bad debt....there are a lot of non-profit consumer credit services that can answer those questions for you. These companies will for no charge help you to arrange payments, to pay off ,or settle credit issues. There really are some tremendous avenues (FREE) to get your credit in good shape !
0 votes Thank Flag Link Fri May 17, 2013
Any late or delinquent debt will hurt you, specially if under 2 years old. However medical bills exceptions are frequent if you have a good explanation.
0 votes Thank Flag Link Fri May 10, 2013
Many consumers have these types of issues with their credit reports. Assuming your score is sufficient to overall qualify, typically a letter of explanation will be requested by the underwriter.
0 votes Thank Flag Link Thu May 9, 2013
If your are thinking about getting a mortgage it is very important to get pre-qualified in advance so you don't fall in love with a property you can't afford. You can start with a loan officer at your bank or contact a Realtor in the area you are looking, we all have referrals for good loan officers.
0 votes Thank Flag Link Thu May 9, 2013
Yes if they are delinquent they will hurt you.

Myke triebold
0 votes Thank Flag Link Thu May 9, 2013
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