Posted on: 28th Feb, 2007 11:41 am
I am 18 months out of a chapter 7 with my wife. I am for the last 7 months paid by 1099, she is w-2\'d. I make more. We need to get a larger house and have some money to put down through the sale of our current house. My middle fico is 648 hers is 688. What kinda options are their for us? We would be putting atleast 10% down. Any thoughts/help?
Thanks.
Thanks.
Your credit scores are reasonably good and you can qualify for competitive interest rates. You can look for a fixed rate loan depending on the price range in which you are looking to get the new house. I will add that you can take out the mortgage on your wife's name as her credit score is better than yours.
If you provide some more details on the range in which you are looking to get the new house and the estimated earnings you and your wife have then I can provide you more details about the type of mortgage which would be suitable for you.
If you provide some more details on the range in which you are looking to get the new house and the estimated earnings you and your wife have then I can provide you more details about the type of mortgage which would be suitable for you.
If you have made payments on your mortgage and any other credit AFTER the bankruptcy, that will really help you qualify. Most lenders want to see that the bankruptcy helped you. Late payments following a bankruptcy show a lender that perhaps it didn't fix the issue.
Based on what you have shared you should find some very competitive offers.
Based on what you have shared you should find some very competitive offers.
