Posted on: 11th Sep, 2010 05:28 am
i am considering trying to purchase a home after filing bankruptcy 2 years ago. my credit report shows 3 different scores, 533, 614, and 627. is it even possible to obtain a mortgage with scores that low?
The middle score will be taken into consideration when you apply for a mortgage. With a credit score of 614, you will be able to qualify for a FHA mortgage provided you don't have various other negative items on your credit report.
Yes but there is more involved. Since the time of your BK7, have you established new credit? Have you been responsible with any new established credit? That is what the underwriters will look at most. If so, you have a great chance. If not, you better have other compensating factors.
