Paulmai0122, Home Buyer in New York, NY

Mortgage application

Asked by Paulmai0122, New York, NY Wed Nov 7, 2012

I was a prev homeowner. Files BK due to my divorce 3 years ago. Remarried and my current wife never owned a home. Can we get a loan with 0 down and will she qualify as first time homeowner?

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Mark Zatz, Agent, Arlington Heights, IL
Thu Feb 19, 2015
It depends on your income qualifications as well. There are no 1st time homebuyer programs that I am currently aware of, state or federal, so that really does not matter at the current time.
3 years BK discharge should be ok - but you may need 20% down.
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Michael Decm…, Mortgage Broker Or Lender, Bolingbrook, IL
Sat Nov 15, 2014
Depending on BK discharge date and type of Bankruptcy, you may already qualify, there are programs available that may qualify your wife for grants; however, there are additional ?s that need to be addressed and answered. Feel free to contact me to see if that is a viable option.

Mike Decman
Cherry Creek Mortgage Company
6440 Main Street, Suite 320
Woodridge, IL 60517
Loan Officer NMLS # 847074
Office 630-427-4668
Cell 239-633-6323
e-Fax 800-863-5473

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Peter Kedzior, Agent, Elk Grove Village, IL
Thu Nov 8, 2012
Your wife can purchase a home and get financing based only on her credit score and income. If she makes enough to be pre-approved, your income and credit score don't have to be included.
0 votes
Larry Hines, Agent, Algonquin, IL
Wed Nov 7, 2012
Depending if you reestablished good credit. If your bk was discharged 3 years ago you could be good to go. If you buy together it does not make any difference if she never owned a home before. You can may get an fha loan with 3.5% down.
Give me call and we can discuss some options
0 votes
norma h, Agent, Des Plaines, IL
Wed Nov 7, 2012
It really all depends on what she will qualify for. I suggest speaking to a loan officer. I could give you a recommendation if you like.
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