Everyone knows that credit score affects one’s ability to purchase a home.

Higher credit scores mean lower mortgage interest rates.

Many consumers have low credit scores as a result of unpaid medical expenses.

These derogatory entries on a consumer’s credit report can affect a credit report, undesirably, by 100 points or more.   The current FICO model fails to distinguish between unpaid medical and unpaid non-medical bills.

A 100 point drop in someone’s credit score could mean the difference between a high interest rate and a low rate… or even not being granted a mortgage at all.

So if the new FICO9 goes into effect, and you have some unpaid medical bills, does that mean you will not be able to get a great mortgage rate?

Well, perhaps… but not likely anytime soon.

Fannie Mae and Freddie Mac, the two main financing sources in the current mortgage market, are not planning to use the new score in evaluating loan applicants for the foreseeable future… the major banks don’t seem to be in a big hurry to use it either!

So what are you to do if you have unpaid medical bills or your credit is less than perfect, and you are considering buying a new home?

Your best course of action to get your credit back on tract, and to learn how to be financially responsible, is to contact one of the professionals at DebtHelper.com.

If you are struggling with your personal finances, or if you are looking to become debt free call Debthelper at 800-920-2262, or visit @ www.debthelper.com.