Hello Maria, you may qualify for FHA or VA financing two years after a BK from 3.5% down and minimum 580 fico score. FYI, you may qualify ONE DAY after a short sale, foreclosure or deed in lieu with 20% down.
The rentals in 91024 zip code start from $1,550 for 1bd 1ba guest house and from $3,900 for 3bd 2ba single famiy home and up. It would be up to each landlord or rental management companies as to additional deposit requirements due to BK, etc.
You should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses, less than first, last and security with down payment and closing cost assistance programs.
You may qualify to buy easier than renting. Do you have down payment and closing costs saved or do you need down payment and closing cost assistance programs? You may qualify to buy with minimal out of pocket expenses like the first, last and security of any rental deposits.
Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience