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My bankruptcy was discharged 2 years ago. Can I get a loan?

I was told that 2 years after bankruptcy I would beable to get a loan. I paid all of my debt until the day I filed.   I make 70,000-75000 dollars year and my only debt is my  car (460 a month).   I have been working to re build my credit and I have credit score of 675.  My current rental is up 7/1/2012 and I would like to get my own home for my family.  Is this possible or do I need to wait longer?

Thank you.
  • March 16 2012 - Marietta
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Answers (4)

Since you are several months out from buying now would be a good time for you to take a look at your credit and make sure that everything is reporting correctly. All too often after a bankruptcy items continue to show incorrectly. 

You should contact a local loan officer and have them review your options. From what you said above you look like you are on the right track. Take care and good luck. :)
  • February 23 2013
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Yes best loan might be an FHA loan and depends on your credit score for a conventional.
  • February 19 2013
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YES!!!!  FHA  Allows purchase 2 years after discharge. 3.5% down payment and they likely will want you to have some extra cash reserves as well.  I know a fantastic FHA loan officer if you need a referral and I would be glad to help you with your Marietta, Cobb County home purchase. 
  • March 16 2012
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Yes, it is possible that you may qualify for a FHA loan.  Go get pre-approved, so they can look at the entire scenario.

Give Clay Branch a call or email him. 

Good luck!
  • March 16 2012
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