Financing in 60004>Question Details

Cyork, Home Buyer in Arlington Heights, IL

I am interested in a local bank who would handle a owner occupied purchase mortgage - it would be a non-conforming loan

Asked by Cyork, Arlington Heights, IL Mon Sep 24, 2012

my credit is fair and I have a large downpayment, but BK in the past

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Good afternoon Cyork,

I recommend instead speaking with a Local Mortgage Banker. You'll find Mortgage Bankers provide a much higher level of service and expertise than a Loan Officer at a regular bank. Mortgage Bankers have traditionally been the "go-to" sources for mortgage financing.

Trevor Curran
NMLS #40140
0 votes Thank Flag Link Thu Sep 27, 2012
Try Village Bank and Trust A rlibgton Heights or People's Bank Arlingtton Heights
0 votes Thank Flag Link Mon Sep 24, 2012
Hello Cyork,
We are a local bank and we handle all types of mortgages including owner occupied. With regards to your BK, here are the basic guidelines:

Chapter 7: With a credit qualifying score, you can apply for a mortgage 2 years from the discharge date.
Chapter 13: After making 12 months of on time payments, and a credit qualifying score you can apply for a mortgage with the permission of your trustee.

I'd love to answer any other questions that you may have. Please feel free to reach out to me.

Cecelia Marlow - Vice President
The Federal Savings Bank
cmarlow@thefederalsavingsbank.com
312-738-6294 direct
0 votes Thank Flag Link Mon Sep 24, 2012
We are a local mortgage broker, located in Deerfield (I live in Arlington Heights), not a bank, but would be happy to entertain your questions. You said you have a BK in the past, but I would need to know when, in the past, the discharge occurred, not when you filed. Feel free to email me your contact information at cmurphy@prism-mortgage.com

Thanks
0 votes Thank Flag Link Mon Sep 24, 2012
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