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Answers (4)
- Holly Blanken, "onegodholly"
- Contributions:71
Lenders will look at the date the foreclsoure is actually finalized. You need to make sure of that date. If it was a FHA loan that defaulted, you will need to have the loan officer check the FHA website to see if their will be any issues with FHA insuring your new loan. I am in Ohio.
There are government assistance programs available down to 600 credit scores. I am here to help if you so desire.
- MATT BOUCHARD, "Michigan Lender"
- Contributions:6
Let,s discuss your situation...There are many factors that apply when buying a home. USDA offers 100% financing options, FHA offers low down payment options. My company does lend in Ohio. See my profile for contact info. I would be happy to be of service.
Best Wishes,
Matt Bouchard
Best Wishes,
Matt Bouchard
- paul weinzimmer, "FHAPAUL"
- Contributions:128
Now that you are 3 years out of foreclosure you are elgible to do a FHA loan if you have a 620 middle credit score. Plan on putting 3.5% of the purchase price down. If your credit score isn't at least a 620 you should try and get a secured credit card that reports to all three big credit bureaus(Trans Union, Experian, Equiafax). If you use that wisely your credit will improve.
Hope this helps.
Paul
Hope this helps.
Paul
- wetdawgs
- Contributions:26833
FHA loans require a minimum down payment of 3.5%, plus closing costs. Most lenders have a minimum credit score of 640 for FHA loans.
How's your credit score? A larger down payment carries weight. It is also prudent to have saved up a fund for the home repairs for the first year.
I have a bankruptsy 4 years ago and a forecloser 3 years ago. Can anyone help me finance?
I want a loan with a low down payment and low interest. I will continue to rent if I cant find a lender to help me.
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