Bad credit pre-approval

Asked by Moosejaa, 07746 Thu May 13, 2010

My wife and I are looking to get pre-approved to buy a new home. Her credit is good, mine is not (had to file bankruptcy due to a a previous divorce). What's the best way to go in getting pre-approved?

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5
Jerry Barker’s answer
Jerry Barker, Agent, Atlantic City, NJ
Fri May 14, 2010
The ONLY way to get preapproved is to contact a mortgage broker, or mortgage banker, you can compare interest rates on mortgages in New Jersey at http://www.sjrates.com

It may be possible for your wife to go at it alone if your pulling down the situation with your bad credit.
0 votes
Hannah Flieg…, Agent, Larkspur, CA
Fri May 14, 2010
Hi Moose,

From your question, you didn't provide a credit score so you may think you are worse off than you are. Here are two resources for FREE you can pull your credit report and your credit score to see where you stand. If you have a credit score over 620 you can probably qualify for a mortgage product called an FHA. This is the lowest quality mortgage product available to consumer who have poor credit scores. But yeah at least you can get a mortgage and close right?
In any case,once you pull your credit report, if you would like me to take a look at it and provide some ideas to assist you get your credit rating in good standing, let me know. Good luck

FREE Credit Report
http://www.AnnualCreditReport.com

FREE Credit Score
http://www.CreditKarma.com

Hannah Fliegel, FICO Pro
415-999-9348
Web Reference:  http://www.HowDoYouScore.com
0 votes
Mortgagelady, , Freehold, NJ
Thu May 13, 2010
Hello Moosejaa, I am a mortgage loan officer for 18 years and would be happy to sit and meet with you. There is no way to know without looking at a credit report and and conducting an interview. Sometimes it means you may not be able to get pre-qualified at that moment, but at least I can help you put a plan in place to help you repair the damage or set down a time frame. Sometimes, it's not as bad as you think. I don't charge anything to do a pre-approval or review your credit. You can reach me at 732-299-9521 or at liz.romanowski@pncmortgage.com I would be happy to put you in touch with local realtors and past customers as references. Trust is a must!
0 votes
Tg Glazer, Agent, Westfield, NJ
Thu May 13, 2010
The best thing to do is contact a qualified mortgage representative who can best guide you on what to do to get the best pre-approval. If you'd like, I can give you the name and phone number of a mortgage rep that I deal with, who will be happy to answer all of your questions without trying to pressure you or sell you anything at all.

Feel free to contact me at 732-682-7299 or via email at tg.glazer@cbmoves.com
0 votes
Joan Congilo…, Agent, Freehold, NJ
Thu May 13, 2010
Hi Moosejaa
That really will depend on a few things. how long ago you filed bankruptcy, what chapter you filed, your currents assets, income & debts & what money you have to work with to buy a home. If you contact me I can have you speak to someone that can give you a free consultation & preaaprove you for a loan.
Joan Congilose CRS, GRI, e-Pro
RE/MAX Central Manalapan
(732) 972-1000 Ext:364
(732) 232-5277
Web Reference:  http://www.joancongilose.com
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