How long can I buy a home after filing bankruptcy?

Asked by Angela Nichols, Springfield, IL Sat Oct 27, 2012

Its been almost 3 yrs now since i filed bankrupcy from a horrible divorce. I have a small down paymnt and have rebuilt my credit score to 740. Is it possible to get a home loan yet? and where do I begin, Im so tired of renting..

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Peter Kedzior’s answer
Peter Kedzior, Agent, Elk Grove Village, IL
Sun Oct 28, 2012
Many lenders will be willing to get you a 30-year FHA mortgage at APR of 4.0% or less. Please contact a mortgage broker and ask him/her if you'd qualify for a low down-payment FHA mortgage. You most likely would.
0 votes
Amy Adorno, Agent, Bloomingdale, IL
Fri Aug 30, 2013
It is two years from your discharge date of the BK that you are eligible for a mortgage pending your credit score qualifications and a few other factors. I work with a great preferred mortgage loan officer I would be happy to get you her contact info if you are interested in getting pre approved.
0 votes
Rusty Cherbak, Agent, Algonquin, IL
Sat Oct 27, 2012
5 to 7 yrs U have a good score a very very good score... Every day their are different changes in the Loan mrt. give me a call & I can set U up with a good loan comp to help U out...I will help U out.....I go that x-tra mile for clients.......847-828-1717
0 votes
Judy Soule, Agent, Odessa, FL
Sat Oct 27, 2012
Most lender's require 3 years for bankruptcy seasoning. If there was a home involved in the bankrupty then you are looking a 4 years. The seaoning term is based off of the discharge date not date filed.
0 votes
Phil Rotondo, Agent, Melbourne, FL
Sat Oct 27, 2012
To be sure, you should ask your attorney.
0 votes
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