Home Buying in 32953>Question Details

Michael Unger,  in Merritt Island, FL

Are mortgages available for couple 3 years out of bankruptcy.? Husband qualifies for VA loan. 6 digit retirement income most of which is tax free.

Asked by Michael Unger, Merritt Island, FL Mon May 6, 2013

Credit is getting corrected, 2 scores in the low 700's, 1 in the high 600's.

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Yes, 3 years is the industry standard required time after a bankruptcy for a new loan. Of course there are other factors involved in getting a loan approved. Only a mortgage broker will be able to explain to you the options available. And always interview at least to independent brokers, since not all lenders offer the same products or rates. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
Antonelli Realty
2 votes Thank Flag Link Tue May 7, 2013
Yes and if you talk with an experienced loan officer who works for a lender that offers all of the loan types you will discover a number of options. The key is the loan officer and lender. A critical choice. Gather up all of the information you can find on the loan types than when you talk with a loan officer you will know which loans they should offer. An article on Your-Road-Home.com, Consultation Interviewing Loan Officers, will serve you well. You will also find a number of articles on loan types and be sure to read article #9 about the MCC tax credit for first time home buyers. A first time home buyer is someone who has not owned their primary residence for three years. The MCC must be filed by your loan officer before you close your new loan. Dont let anyone talk you out of the MCC. Its the best tax credit yet.
After you gather up all the information and are ready to interview loan officers you will find some from your area on Trulia offering their services and Trulia is also a good source of information.
Best of Luck, Stephen Webber
Web Reference: http://Your-Road-Home.com
1 vote Thank Flag Link Mon May 6, 2013
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