Posted on: 17th Apr, 2011 06:48 am
Wife and I are out of BK7 for about 1 year and 5 months and out of Foreclosure for almost 3 years.
$65k+ a year verifiable, plus elf employed
Credit is now back in the 620-655 range. Could come up with $5k+/- for down.
and have possible cosigner with 680+ score.
Do we have any home loan options? We are looking to qualify for only about $200k+/-.
Thanks for your imput
$65k+ a year verifiable, plus elf employed
Credit is now back in the 620-655 range. Could come up with $5k+/- for down.
and have possible cosigner with 680+ score.
Do we have any home loan options? We are looking to qualify for only about $200k+/-.
Thanks for your imput
PS:
Total debt equals about $600 so debt to income ratio not really applicable.
Total debt equals about $600 so debt to income ratio not really applicable.
Welcome Guest,
With the credit score that you and your co-signer have, you will be able to qualify for a FHA loan. You should speak to the local FHA lenders and apply for a mortgage with them.
With the credit score that you and your co-signer have, you will be able to qualify for a FHA loan. You should speak to the local FHA lenders and apply for a mortgage with them.
Just a quick question? Just got my updates from KreditKarma and they are as follows:
me Trans score 625 and Vantage score 708
wife Trans score 628 and Vantage score 693
My question is what are the chances of getting a loan without the need of a co-signor?
The debt ratios that we would be looking at is about 19/25. We are only looking to finance about $200k maybe $210k max.
Thanks,
me Trans score 625 and Vantage score 708
wife Trans score 628 and Vantage score 693
My question is what are the chances of getting a loan without the need of a co-signor?
The debt ratios that we would be looking at is about 19/25. We are only looking to finance about $200k maybe $210k max.
Thanks,
Hi Guest!
Welcome to forums!
With the credit scores that you have now, you and your wife will be able to qualify for a FHA loan. It will be further easier for you to qualify for a loan if you don't have much negative items on your credit report.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
With the credit scores that you have now, you and your wife will be able to qualify for a FHA loan. It will be further easier for you to qualify for a loan if you don't have much negative items on your credit report.
Feel free to ask if you've further queries.
Sussane
we're three years now since our bankruptcy discharge... i was unemployed at time of discharge. house was listed in bankruptcy as *other: homeowners will stay in home and continue making payments. we had no plans to give up home or allow foreclosure. we received (i understand now) bad advice not to reaffirm the home loan. payments are all on time. now we want to get a refinance on the home: wells fargo will not hardly even talk to us let alone do a refinance!! they keep saying - you didn't reaffirm loan so even though bankruptcy was discharged this account is locked up due to bankruptcy law. what are our rights here? home is ours, our names are on deed. wells fargo keeps accepting payments every month... provide us with an account statement showing our payments are accepted. how can we get wells fargo to provide us with a payment history document we can take to a new mortgage banker to show payment history and qualify for a refinance with them? or if we decide to sell the home we'll need payoff numbers... aren't they required to provide this? thank you, daveb
Hi Dave,
Unless you reaffirm the loan, you are not personally liable for the loan payments. In such a situation, none of the lenders will be ready to let you refinance the mortgage. You may have to reopen the bankruptcy filing, reaffirm the mortgage and then apply for a refinance.
Unless you reaffirm the loan, you are not personally liable for the loan payments. In such a situation, none of the lenders will be ready to let you refinance the mortgage. You may have to reopen the bankruptcy filing, reaffirm the mortgage and then apply for a refinance.