Posted on: 20th Oct, 2008 10:44 am
I've been discharged in June 08 now I would like to purchase a home with as little money down
2 years post bk for FHA 4 for conforming
You need to work at reestablishing credit and keep it clean during that time.
Good Luck
Brian
You need to work at reestablishing credit and keep it clean during that time.
Good Luck
Brian
Hi riricosta,
Like Brian said, you need 2 years after BK for FHA, so your only option is to look for a lease purchase, enter into a 2 year agreement, rebuild your credit, make all rent/lease pymts on time, and you will be an excellent candidate after 6/10. You normally need at least $2500 to put down on these types of transactions, but in today's market, anything is possible.
Kim
Like Brian said, you need 2 years after BK for FHA, so your only option is to look for a lease purchase, enter into a 2 year agreement, rebuild your credit, make all rent/lease pymts on time, and you will be an excellent candidate after 6/10. You normally need at least $2500 to put down on these types of transactions, but in today's market, anything is possible.
Kim
