Yes FHA loans require a 580 score, Conventional require a 620.. I recommend The Lenders Network, they can refer you to an agent to help you find a home and a Lender or two that can get you pre approved.
Your credit score would absoultely allow for FHA financing, only a 3.5% down payment is needed which is great. I've worked with many homebuyers who've had blemishes on the credit report, including bankruptcies. The important question would be "When was your bankruptcy discharged?"
Being that it was filed 5 years ago I'm sure you're in the clear, but I think you owe it to yourself to be certain. Please give me a call at your earliest convenience so we can discuss all aspects of your upcoming home purchase and weigh out several options to ensure an affordable payment. I'm located locally in Hackensack and would be more than happy to help you and your family out.
Paul F. Marzolla
Sr. Mortgage Consultant
I live in Paterson and where I live is discussing, too much drugs etc. the thing u have good and bad part off Paterson. to the east side is great, near to Totowa eg chamberlain ave, redwood ave etc. is great.... more
The credit comes in the way of an income tax return credit. You file your taxes with the appropriate documentation and then either wait for a check, or the credit will reduce your tax liability. So, how quickly you get it depends on whether or not you are taking it as a deduction from taxes owed or waiting for a check from the government.
If you've already filed your 2009 taxes before you purchase and close, then you can file an amended tax return.... more