Financing in 19131>Question Details

Michaeldlee, Home Buyer in Philadelphia, PA

I had a chp 7 bnk dischrg 2 yrs ago, I have est new credit but some of my pymt were 30, 60 days late. Late due to a trans in job.

Asked by Michaeldlee, Philadelphia, PA Thu Oct 11, 2012

I had a chp 7 bnk dischrg 2 yrs ago, I have est new credit but some of my pymt were 30, 60 days late. Late due to a trans in job. What is the min credit score req to get app for an FHA loan?

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Sheri Curci’s answer
Good evening Michael,

Well…. allot of American consumers are in the same boat as you are. Prior to 2008 the lenders use to have the underwriters review the letter of explanation on some 30 - 60 day lates.

I still have a Top Gun in the business over 20 years and She is a Doll to work with.

Feel free to give me a confidential call so we can discuss your game plan ( if any )

I love a challenge and in this business there is never a dull moment.

All the Best John Curci RE/MAX Properties 215-757-2889
1 vote Thank Flag Link Thu Oct 11, 2012
Hello Michaeldlee,

Accorrding to FHA guidleines you must re-estbalish your credit after a bankruptcy.
However that mean with on time payments. In dealing with clients that have had bankruptcies, I have not had any success in getting loans approved with delinquencies after a bankruptcy, except maybe in one case. However this client had an extremely strong file, high income, low debt to income, $100,000 in savings and a BK that was 7 years old. I don't think I could help your case here.


Best Regards,
Alan Openshaw
Cornerstone Lending
VOTED BEST IN BUCKS 2010 & 2012
Cell 267 992 7276
Office 215 953 0800
Fax 215 953 1706

Licensed by the PA Department of Banking
NMLS License # 143960
Equal Opportunity Lender
http://www.twitter.com/RightMortgage4U
0 votes Thank Flag Link Thu Oct 11, 2012
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