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Bankrupcty

Bankruptcy was discharged over 3 years ago.  Debt to income ratio is 38%.  We are applying for a VA mortgage.  Our income is net 7980. Since our bankruptcy, all our CC, mortgage payments, and car loans have never been over 30 days late.  Our credit scores are 669 and 680.  Are we in good shape for a mortgage. 
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October 06 2012 - US
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Profile picture for wetdawgs
Your debt to income ratio without a mortgage seems very high. 

Have you "played" with the "what can I afford" calculator?

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October 06 2012
Profile picture for user541138
I am sorry.....I forgot to say that I incorporated the mortgage into the number.  My mistake.
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October 06 2012
Applying for a mortgage with a complete application and providing required documentation should determine if you qualify. It would appear you meet basic guidelines but review of BK, income, employment, asset,  and credit report are all part of qualifying process.  Good luck.
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October 06 2012
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October 09 2012
Good afternoon,

Yes, you appear to hit all the guidelines as they pertain to VA financing.  You only need to wait two years after a BK and be able to verify your income.

Good luck!

Paschal
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October 09 2012
 
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