Will Collections Impact Your Ability to Get a Mortgage? 🤔📉
Short answer: Yes.
Collections appear on your credit report when a debt hasn’t been paid as agreed—and they can seriously affect your ability to secure mortgage financing.
Whether the collection is due to missed payments, a bill you didn’t realize went unpaid, or a dispute you chose not to settle, the result is the same: lenders view any open collections as a red flag.
What You Need to Know:
📌 Collections lower your credit score
📌 They signal financial risk to lenders
📌 Many lenders require collections to be paid before approval
📌 Even paid collections can linger on your credit history for years
💬 Have questions about how collections could impact your mortgage plans—or how to recover from credit setbacks?
I’m here to help. Connect with me anytime—it would be a pleasure to work with you!
https://www.dianebuchanan.ca/
