Financing in Atlanta>Question Details

Georgia home…, Home Buyer in Woodstock, GA

What kind of rate can we expect for a primary residence loan?

Asked by Georgia home buyer, Woodstock, GA Fri Jul 27, 2012

Hi- It's been exactly 2 years since my wife and I discharged a chapter 7 due to wife's work accident- she is on Social Security disability and LTD. We are soon to receive a 85K WC future medical settlement for her injury.
If we purchase a home for 250K with 50K down, can we get a loan? Both our credit scores with Transunion are around 700. Household income is 106K and debt is aprox 10%

Help the community by answering this question:


Very sorry to hear of your wife's accident. Many variable go into determining rate you should anticipate. Call me if you need a referral to a lender or mortgage broker.


Dave Herren
Best Atlanta Properties
1 vote Thank Flag Link Fri Jul 27, 2012
My understanding is that you can definitely buy again after 2 years of being discharged, but I am not a lender. A lender would be able to provide you with more information about the time lines and rates. Feel free to contact me directly if you would like me to refer you to a lender.

Ava Anderson
Solid Source Realty Inc.
Associate Broker
770 369-5121
1 vote Thank Flag Link Fri Jul 27, 2012
Based off of your information we would be able to offer you a rate of 3.25% for 30 years. Please call me to discuss this.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
apply online:

50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
0 votes Thank Flag Link Wed Jan 23, 2013
If everything is as you say, you should have very little to no problem in getting a good loan.
0 votes Thank Flag Link Sun Aug 12, 2012
2 years from discharge of Chap 7 is the litmus test for accessing the mortgage market...along with surviving FICO scores. Sounds as if you're in pretty good shape since your filing and you should (based on your scenario) be able to obtain a mortgage with us. Obviously, there are more details to consider before unconditional approval but you can expect (based on today's market and is subject to future change) expect 3.375% rate for your purchase money mortgage.

Call me any day 8a-8p to discuss how we can help you get where you want to go...and when.

Over 40 years of personal industry experience at your service....

Vernon Appenzeller
Capital City Mortgage Investments
GA LENDER licensee #7064
NMLS #164510
0 votes Thank Flag Link Fri Jul 27, 2012
Georgia HB,

The short answer to your question is yes, you can obtain a home loan. Your rate would range between 3% and 3.5% depending on the program and your precise timing for closing.

Feel free to call me if you would like a more specific quote. Best to reach me at 678 467-9959.

Timothy Brown
LPO Manager | Evolve Bank & Trust
11605 Haynes Bridge Road Suite 125| Alpharetta, GA 30009
678.468.5626 x110 | fax 678.935.1156 | cell 678.467.9959
NMLS#: 168281
0 votes Thank Flag Link Fri Jul 27, 2012
There should be no reason why you wouldn't qualify with those credit scores. And as long as it's been two years since the bankruptcy and you've re-established your credit, your mortgage rate with our bank would be around 3.25 to 3.375% on a 30 Year Fixed Loan. We have many loan options available and I would love to help you. Access my web site or call me at the cell phone number below, anytime.

And I hope your wife is feeling better and recovering well...

Warm regards,
Kim Jones
Senior Mortgage Banker
678.468.4046 24 x 7 Cell/Text
770.822.2083 Office
678.518.6917 eFax
3328 Peachtree Rd. Suite 200 Atlanta, GA. 30326
NMLS# 75615 | 545217

Web Reference:
0 votes Thank Flag Link Fri Jul 27, 2012
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