Home Buying in 06457>Question Details

gretta, Renter in Middletown, CT

I have been on many websites reading and reading trying to get a understanding. Is it impossible to get my first home after a year of discharge?

Asked by gretta, Middletown, CT Sun Jun 30, 2013

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5
No Gretta,
3 years minimum from any foreclosure or chapter 7 bankruptcy for FHA loans with 3.5% down, but you need to have some credit rebuilt and no late payments.
For conventional financing, you will need to wait 7 years.
0 votes Thank Flag Link Sat Dec 28, 2013
There are many mortgage brokers who can answer your questions. They can also help you prepare whatever steps are needed to get pre approved .
0 votes Thank Flag Link Wed Jul 3, 2013
Contact a mortgage professional to guide you.
0 votes Thank Flag Link Sun Jun 30, 2013
Due to changes in mortgage requirements, you will most likely need to demonstrate your financial stability for a longer period of time. The mortgage market has tightened. What was possible 5 years ago is no longer and option.
0 votes Thank Flag Link Sun Jun 30, 2013
it is usually the case.
I would suggest that you contact a mortgage officer and discuss the best steps to take to get yourself in the best possible position to be able to get a mortgage.
highly recommend Lori Demma of ct home mortgage. 860 712 7355
0 votes Thank Flag Link Sun Jun 30, 2013
Thank you for the information.
Flag Thu Jul 4, 2013
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