We're currently in the process of getting a mortgage. Our middle scores are both around 650-660, our broker told us anything over 620 is great. The only problem is I have one unpaid collection that I will be taking care of today. The CA is notorious for being jerks so I felt lucky that I was able to negotiate the settlement I did due to a variety of reasons that I will post later once the payment goes through (paranoia!). My broker told us our scores were fine, but will this paid collection (we're talking an original debt of $5000) seriously hurt us? In other words, what is more important, the score or individual tradelines? On one hand it's irrelevant since we have to pay it before we can obtain financing but I have been worried sick since about it. Thanks.
I think the score is more important. Your broker has already seen the collection so he would have told you, or blown you off, if he didn't think he could do your loan for you.
