Posted on: 29th May, 2012 07:44 pm
i am 2 years out from a chapter 7 bankruptcy and my fico score is at 630. i am interested in purchasing a home priced at $124,900 with 3.5% or less down. what kind of interest rates could i expect when applying for a mortgage?
Hi Guest,
With a credit score of 630 and a bankruptcy discharge 2 years back, you will be able to qualify for a FHA loan. You won't be able to get conventional loans. Present FHA rates for a 30 year mortgage is approximately around 3.50%.
With a credit score of 630 and a bankruptcy discharge 2 years back, you will be able to qualify for a FHA loan. You won't be able to get conventional loans. Present FHA rates for a 30 year mortgage is approximately around 3.50%.
Hi Guest,
Interest rates keep on changing on a regular basis. So, the lender will consider the interest rate on the date on which you apply for a mortgage.
Thanks
Interest rates keep on changing on a regular basis. So, the lender will consider the interest rate on the date on which you apply for a mortgage.
Thanks