Mortgage and credit score?

I have a 721 credit score but my husband filed bankruptcy at 2004 how do we get a $300,000 house?

Mortgage and credit score?

With the bankruptcy being discharged in 2004 that shouldnt stop you from getting approved. There is still 100% financing available and interest rates are still awesome. Don%26#039;t believe all the bad news you hear on the news. There are a lot of deciding factors that come into play when getting approved. First time home buyer? credit score and rating? Any money down? If you have never owned before then I wouldnt recommend a conforming loan. There are a lot of options available to first time home owners and people who havent owned in the past 3 years. If you currently own or have owned in the past 3 years, a true mortgage professional will lead you onto the right path to getting your credit to where it needs to be or at least taking the necessary steps to getting you approved.

There are also programs out there that allow you to use the higher credit score of the two borrowers while still using both incomes for qualifying purposes.

Alex Myers

Synergy Mortgage Group

(877)428-3328

Mortgage and credit score?

apply for a stated income loan under your name only!

Mortgage and credit score?

With a 721 FICO score and a bankruptcy over 2 years ago, you really should not have any issues getting a loan unless the bankruptcy was filed in 2004 but not yet discharged as in the case of a Chapter 13.

With a FICO that high, you may be able to qualify for a Stated Income/Stated Asset loan by yourself provided you can prove you are employed. You would not have to provide income or asset documentation to your lender and since your credit score is high, you would be eligible for a similar rate than if you applied traditionally. Still a fixed rate fixed term loan as well.

Check for a lender who is reputable and ask lots of questions. Don%26#039;t settle for a high rate loan.

Mortgage and credit score?

If you have a large enough downpayment, you may still be able to find someone to do a %26quot;no documentation loan%26quot;. I doubt it though. They all got screwed and went out of business. Unfortunately, you can%26#039;t not pay your bills and want to borrow money again. Sorry.

Mortgage and credit score?

You don%26#039;t mention your husband%26#039;s credit score. If his score has recovered to above 620 he should still be able to be on a conforming loan with you. If possible see if you can qualify for a fully documented conforming loan with both of you.

Find a reputable mortgage broker and let him/her go to work. Answering this question is their job.

Mortgage and credit score?

If his BK is over 3 years old, you%26#039;ll likely still get approved for A paper conventional financing. Standard is 4 years, but their automated underwriting systems regularly approve loans with as little as 2 years from discharge.

At that point, they look at other things more, like cash reserves (often more important than downpayment!), and debt ratios.

Mortgage and credit score?

Easy answer: find a broker you can trust. Well, easy answer, not always easy to do... :)

I%26#039;d need more info to give you specifics to your situation, but there are many options for you both. Sit down with a good broker, go over ALL the details, and see what the market has to offer. Chapter 13%26#039;s are difficult, but not impossible to work with.

Mortgage and credit score?

get rid of him..your score is great