Home Buying in 45415>Question Details

marsha1, Home Buyer in Dayton, OH

I have a credit score of between 580-600 and I have been in bankruptcy for almost two years can I get a home loan

Asked by marsha1, Dayton, OH Wed Mar 19, 2014

I have since re-established my credit with an secure and unsecure credit card I am looking to purchase a home within the Dayton, Oh area can someone help me? I will be a first time homebuyer

Help the community by answering this question:



As said below by Kim, there is more information that needs to be had. The majority of mortgage lenders don't allow for people to recieve a loan with a credit score under 600. With the minimal information that I have to go off of I know that we can get a loan done for you, if/when I do get all of your informaiton there potentially could be something that disqualifies you from the purcahse at this time.

I would like to find out more and get an application for you.

Please give me a call or feel free to e-mail me. 208-818-3768 or abyrd@afg-co.com

If I don't hear from you, best of luck :)
0 votes Thank Flag Link Thu Mar 20, 2014
Talk to a local lender. They will be able to look at everything and give you a good idea of what can be done and if not today, how to start working toward that goal to make your first home purchase. FHA can do as low as 580, but lenders still often have additional requirements. They will be able to talk to you about that too. Good Luck!
0 votes Thank Flag Link Thu Mar 20, 2014
Hi Marsha, I'll start by answering your question -- with your score alone, and if I understand the bankruptcy situation, yes, you should be able to obtain financing. *** On the other hand, I'd need more information ie is it a Chapter 13? If yes and if you've paid as agreed for at minimum 12 months, then you should be eligible (depending on what debts were included and what's left if anything); so long as your bankruptcy trustee will approve the mortgage.. ** If it was a chapter 7 and the post wasn't clear and you've been discharged two years and you have re-established credit (accts active for 12 months) yes, you should be able to obtain a home loan (if they haven't been active long then non-traditional credit would be needed for consideration). Thing is, you didn't mention assets. That's one of many things considered yet assets are going to play a big part in the decision making process. I'd happy to discuss this further offline as you wouldn't want to put too many personal details out for the world to see.. Best wishes otherwise, Kimberly Lawson, Licensed Mortgage Loan Originator - Ohio only. Contact and licensing information can be found on my profile.
0 votes Thank Flag Link Wed Mar 19, 2014
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