Home Buying in Alpharetta>Question Details

shernez sher…, Other/Just Looking in Chantilly, VA

My husband and I have very poor credit scores, low 500 and two discharged bankruptcies. We make about about 90K annually. Can we get a mortgage?

Asked by shernez shernez, Chantilly, VA Thu Nov 7, 2013

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Yes, it is possible. I have a few lenders and a credit restoration company I can forward you to. Please feel free to contact me at 404-433-4184 for more details.


Tiffany Hankerson
Associate Broker
Drake Realty
404-433-4184 Direct
770-565-2044 Office
866-260-7180 Fax
1 vote Thank Flag Link Thu Nov 7, 2013
Call my Lender! He is John Davis of WR Starkey...if anyone can help you he can...
1 vote Thank Flag Link Thu Nov 7, 2013
You are in the same situation that many people are in coming out of our Recession. Iwork with clients in your same situation and can usually help them purchase a home in as alittle as few months. Please give me a call I am available 7 days a week to meet your needs.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
apply online: mdangelo.brandmortgage.com

50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
0 votes Thank Flag Link Tue Jan 14, 2014
I have a lender that will offer a complimentary credit consultation for you to help you get on the right track. Click on the link below for contact info. Darrell Edquist with Shelter Mortgage. Very knowledgable and experienced!
0 votes Thank Flag Link Tue Nov 26, 2013
I would suggest that you review your credit report to see what items are causing to the low credit scores. Then work on rebuilding your credit. Even if you are able to find a lend who would finance you, some items will still need to be paid off. You will need to wait at least 2 to 3 years after a bankruptcy to purchase. Many people think of a bankruptcy as the end of the world. Honestly with some determination and discipline, you can get your score back up to a 640 in about a year. I would gladly put you in touch with my loan officer if you would like to have her give you some advice on how to address your credit issues.

LaShonda Solomon
Associate Broker
Keller Williams Realty Signature Partners
(678) 477-5226
0 votes Thank Flag Link Tue Nov 19, 2013
Look for lenders who do not just rely on credit score for approval. Each lender has different requirements; shop around and you will be able to find someone that you can work with.

Dana Lindberg
CFS Mortgage - http://www.cfs203k.com
0 votes Thank Flag Link Sun Nov 10, 2013
Check out Continental Credit-ask for Drew Peterson http://www.continentalcreditonline.com/
0 votes Thank Flag Link Sun Nov 10, 2013
FHA allows lenders to approve loans with a 580 credit score. A good site to go to get connected with a reputable lender that offer loans with poor credit is, The Lenders Network. Low 500's is pretty low, but if you got those scores online then they are not accurate... If anyone can get you approved for a loan with bad credit they can!

Good luck!
0 votes Thank Flag Link Thu Nov 7, 2013
Can you? Possibly, with terrible rates, high fees and a short duration before it's due to be refinanced or paid off. Should you...? That's a different question that I want you to consider.
Very good people have been through some very tough times over the past few years through no fault of their own. If you fit this bill, then I would encourage you to take some time to get back on your feet. Save up some money for an emergency fund and down payment, when you do qualify for a more competitive mortgage you'll need it. Pay any bills you have 1 week early and establish a good habit. If you don't have any new credit since your BK's, you're going to need to re-establish before conventional lenders will consider you. One way to do this is to talk to your bank or credit union about getting a secured credit card. If you deposit $1000 you have a credit card with this (or possibly less) as a limit. Use the card & pay it off every month for expenses you already have like gas & groceries.
See if you can get some credit counseling from a local non-profit company, a mortgage broker or even a church who participates with Dave Ramsey's program. It may not take long to turn things around. You have a good income and a chance to establish some long term goals of financial soundness and home ownership. I wish you the best.
0 votes Thank Flag Link Thu Nov 7, 2013
You can do 40 percent down.
Your other option is to improve your credit score.
I can connect you with a good lender that is very familiar with this process.

Isabel Elsesser, Residential Specialist
First United Realty
Save Time & Money!
Direct 770-307-8751
Fax 888-799-3184
Full Time from 1993-2013
0 votes Thank Flag Link Thu Nov 7, 2013
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