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What to do or who to ask if I qualify or if I need improvement or to wait on buyin a house?

I applied a mortgage back in March 2011 but I got denied. I had a foreclosure with my ex-husband back in 2008. The mortgage lady that processed my mortgage application said that my credit is good and the foreclosure will be good in Sept 2011. She advised me to give the foreclosure some time. Also, at that time I made less (20k a year). Now, I make at least 40k or 40k+ a year. I don't know what my credit and fico score is. I want to purchase a house next year around October when my lease (house) is up. Can I ask my bank to check if I qualify for a loan to purchase a house? I want to know where my credit and fico score standing at. If I need to improve my scores or what is that I need to work on to qualify for a loan. I'm not asking too much, I'm comfortable with 80-100k with 5% down. Do I have to ask for preapproval or prequalified? Is this process has impact on me when I will apply for a loan in October 2014? Thank you in advance.

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October 31 2013 - East Houston
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Answers (6)

I always say to check with a local lender to see how your credit is looking and if there are things you need to fix.  Most lenders will help you clean up things to get you ready to buy in hopes to get your business down the road.  I usually suggest talking to at least two lenders and I always suggest one of them being a lender you currently do business with - they know you and hopefully there is someone there you trust.
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November 26 2013

Send all yourl Real Estate and Mortgage questions to me 24-7 I will have a answer. Thanks David Schwab of Sterling Bank

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November 18 2013
Zhee, I am currently working with a client in the same situation as you, only, she is looking to buy in March of 2014 and we were able to help her with her scores. I will be able to get you the information as far as your credit score are concern, with no cost to you. My lender will meet with you in person and address all of your concerns. If you need help with your credit, we can help you with that as well with no cost to you. Please call me when you get a chance.

Diana Walton
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November 14 2013
You need a  good Local Lender to help you.
I can refer several.
Contact me if I can help.

Good Luck
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November 09 2013
Call I think
 I can help. Thanks David
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October 31 2013
You really just need a credit check it sounds like at this point. Your bank should be able to do this for you for free. It won't effect your purchasing all the way out into October next year. You need to shoot for at least a 640 and work to keep it there until you are ready. If you really want to know how much you can afford right now, go ahead and become pre-approved. It should not hurt you this far in advance of purchasing. Best of luck.
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October 31 2013
 
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