Posted on: 07th Jun, 2009 05:04 am
my family and i are looking to sell our nj home and move to sc. upon the sale we will have at least 30% to put down on a new home of $150k or less in sc. we are concerned about recent bankruptcies to clear old debt that each of us has. how would we go about getting a mortgage?
knixfan18
Welcoem to the forum
Your recent activites woudl have probably affected your credit score quit a bit and this will have an impcat when you go to get a mortgage.
First thing you need to do is, check your credit report and let us know what showes up on it and whats your credit score.
Good luck and feel free to ask
Welcoem to the forum
Your recent activites woudl have probably affected your credit score quit a bit and this will have an impcat when you go to get a mortgage.
First thing you need to do is, check your credit report and let us know what showes up on it and whats your credit score.
Good luck and feel free to ask
There are specific guildeines regarding BK's and how long before you will qualify for an FHA or conventional loan. For an FHA 2 years must elapse before you can be approved without an exception. For a conventional loan the timeframe is 4 years and very few investors are allowing exceptions and even if you could get an exception the rate would be prohibitive with all the loan level pricing adjustments for credit score, although with your low ltv it may be worth looking into. any questions please email me "brian@bffconsulting.com"
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