I want to buy a $150000 home and have $70000 cash and a prior foreclosure. Will I be able to get a lender that will loan me the balance?

Asked by Ib, Clinton, MD Wed Dec 19, 2012

--
This question was asked from this property: http://www.trulia.com/property/map/1017792412-12916-Windbroo…

Help the community by answering this question:

+ web reference
Web reference:

Answers

5
ida.assets, , Clinton, MD
Mon Jan 28, 2013
You might be able to do that, tell me the detail at ida dot assets at gmail
0 votes
Tracey Simms, Agent, Bel Air, MD
Wed Dec 19, 2012
It will depend on the length of time since your foreclosure ( must be 3 years , the time does not start on the date of foreclosure but when the foreclosure is released).

Also, your credit history since the foreclosure, debt ratio and credit score are all going to factor into the decision.

Contact a reputable mortgage broker who will be able to assist you with evaluating your current situation.

I would be a happy to recommend someone to you.
0 votes
Scott Godzyk, Agent, Manchester, NH
Wed Dec 19, 2012
Spme types of mortgages may be out however others may be allow it. You need to start by meeting with a local and trusted loan officer who can pre-qualify you at no cost and let your know what you do qualify for. Good luck with your purchase
0 votes
Greg Myers, Agent, Gaitherburg, MD
Wed Dec 19, 2012
Your foreclosure has to be more than 3 years ago to qualify for FHA financing as well as re-establishing credit.
0 votes
Akil Walker, Agent, Upper Marlboro, MD
Wed Dec 19, 2012
lb,


It depends but it sounds like you can do a conventional loan which will help. let me know if you need any assistance.

thanks,

Akil
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Clinton Zip Codes

Email me when…

Learn more