My fiance has a credit score of 633, and mine is 654. My real estate agent has said that these scores are fine and that we will be approved for a USDA loan, he said these are 100% finaced loans. However, I believe he pushed aside the fact that my fiance has collections that have yet to be paid. About 1200, give or take. While he says our scores, income, and car debt are all okay and we'll still be approved, could his collections from a few years back cause us not to get a loan? We don't know if we should take our so called emergency money and pay off the collections, or have faith in our real estate agent and ignore the collections at this point in time. The money we have saved that we would be using would be the money we planned on using for our new home, inspection, appraisel, and anything else involved. This is very important because we feel like we finally just found the house. I would hate to lose it because of this. Thanks for the help!
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