Are we more likely to receive a low loan/be denied because of scores/bankruptcy & should we secure a loan on our own first or find an agent first?

Asked by dianito1318, Newport News, VA Thu Jan 31, 2013

My husband and I are first time home buyers with credit scores in the mid to high 600's. We have also filed bankruptcy over 4 years ago.

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John R Beave…, Agent, Portsmouth, VA
Mon Oct 28, 2013
The first step is to pick out a Realtor that you feel comfortable with. Then he can recommend a local lender and between the two of them they will assist you in the purchase of a home. It may take awhile but the right team will get you through it.

If I can be a additional assistance, please do not hesitate to contact me.

John R Beavers, Realtor
Heartland Realty
0 votes
Jamaal Hill, Agent, Chesapeake, VA
Tue Feb 26, 2013
Talking to an agent first is your best bet. My broker does credit repair and mortgages, so we can definitely find a solution that works best for you. Call or text me at 757-344-5075 to discuss futher.

Jamaal Hill
Timeline Enterprises
0 votes
Kim Kubisiak, Agent, Newport News, VA
Sun Feb 3, 2013
Hi Dianito1318,
I would speak to a Realtor's why. A Realtor is going to have lenders that they work with frequently and trust. Myself, the lender I recommend is one that I use personally and I trust. He is great, never has made myself or my clients feel that any question was silly or unimportant. Also, you can speak to him over the phone, which is very convenient and quick when just getting started. If you find that due to credit scores and/or a bankruptcy you are not ready to buy right now, the lender will be able to assist you in quick ways to improve your scores and give you a timeframe as to when you would be ready.

I definitely recommend you speak with a lender and find out where you stand and what your options are. Let me know if you're interested and I'll email you my preferred lenders name.

Best of luck,

Kim Kubisiak
Randall & Kubisiak Realty Group
Keller Williams Elite
804 Omni Way Suite 200
Newport News, VA 23606
0 votes
Amy Bush, Agent, Hampton, VA
Thu Jan 31, 2013
Your best route would be to select a Realtor who can put you in touch with a few of their preferred lenders to see what the guidelines are and if you are a candidate to purchase a house at the moment. If not, the lender can give helpful advice for how long you will have to wait or what might need to be done to get you preapproved for a loan. Please let me know if I can be of further help.
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