Home Buying in Norman>Question Details

Jfburch, Home Buyer in Ropesville, TX

We would like to purchase a home in Norman, OK or the outskirts of it but we had a foreclosure almost 3 years ago and can't seem to get any relief.

Asked by Jfburch, Ropesville, TX Fri Aug 9, 2013

We may have to wait until Jan. of next yr. but are needing to go now due to my Mother needs a home now too and our home is not large enough. We have great credit other than the foreclosure which was the bank's fault too. We would love to purchase once so we don't have to move my Mother or us twice. As neither of us live in OK.. Any advice ????

Help the community by answering this question:


Hi Jfburch,

The good news is that you can qualify for mortgage within 2-3 years of a bankruptcy or foreclosure. Usually lenders look for a minimum 640 credit score, and they want to see good credit practices (using credit cards responsibly, making on time payments for at least 12 months, etc). You are usually looking at at least 3.5% down payment, and job history is important for qualifying as well. I would love to go over some options for you to purchase in Norman or the surrounding area. Please feel free to give me a call any time to talk about what to do next to get a pre-approval and we'll get you going!

All the best,
Christen Cox
Keller Williams Realty
Mulinix OKC
Norman, OK
405-301-5090 cell
1 vote Thank Flag Link Sat Aug 10, 2013
It would depend on the lender. I would suggest try to purchase a lease purchase home. Where the owner will allow you to live in the home and you are leasing it from the owner paying rent over years 3 year, until you have a history with them you could possibly get a loan after 3 years of history with them, or that owner finance it through them over a period of time and they finance it.,
0 votes Thank Flag Link Thu Oct 3, 2013
Call Kurt Swink, owner of Financial Concepts Mortgage at 405-722-5626 and go over your situation with him.

Tell him, Josh sent you.
0 votes Thank Flag Link Sat Aug 10, 2013
It is usually three years, but have you talked to a lender? I have a few here in Norman. Call me at 761-5344 area code 405. No worries!!!!
0 votes Thank Flag Link Sat Aug 10, 2013
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