Obtaining a Mortgage 1 year after bankruptcy discharge...advice please :)Hi,My husband and I filed bankruptcy (Ch 7) and it was discharged last October. Our credit since then is good. My credit score has actually gone up by 100 pts (still Fair at 638) and I'm not sure about his (didn't pull his). The only negatives we may have on our credit now are two hospital bills (hit with two ER visits one month after our discharge and we didn't have good insurance-deductibles too high at the time) that we are trying to pay. Other than that, I was able to obtain a small credit card to start re-building (limit of only $750). What I'm wondering is, what kind of mortgage is it possible to get in our situation with our credit? We rent right now...at abotu $1000 a month (and I hear the rent is going up). I found a halfplex for only $114,000 in a great neighborhood (3 bed/2 bath) that I could see us living in for at least 5 years (and it's right across the street from my daughters school and has a big yard). What type of down payment is required these days? I believe if we were able to obtain a loan with even a lower down payment (say 5% but I hear it's hard to find a lender that will take less than 10%) and pay P&I, for a 30 yr fixed at 7%, the mortgage amount would be around $850/month...even lower than we are paying in rent. What I'm wondering is...is it possible with 5% down payment....and with our credit....and if so, where do I go to try to obtain a pre-approval? Researching...thank you!Angel in Carmichael, CAOctober 05 2011 - Carmichael11YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.