Zillow Advice: Mortgage - what would i need to qualify for a home loan 4 years after bankruptcy http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ Zillow Advice | Zillow Real Estate It sounds like your situation ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ It sounds like your situation is much like many others. &nbsp;The BK doesn't sound like it will pose much of a problem. &nbsp;Contact me if you need help, good luck! Fri, 10 Jan 2014 18:42:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2014-01-10T18:42:00Z Hi Just Wondering,We are ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ Hi Just Wondering,<br/><br/>We are located in the East Bay (Concord to be exact) .. We do loans like this all the time. We would have to look at all of the details to see what you would qualify for. <br/><br/>Thanks,<br/>Craig Thu, 09 Jan 2014 00:58:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2014-01-09T00:58:00Z Guidlines for a bankruptcy, ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ Guidlines for a bankruptcy, depending on which bankruptcy is 2 years for FHA (Chapter7) and 3 years for Vonventional (ch. 7). Ch 13 for FHA, eligibility can be granted after 1 year of satisfactory payment history. Ch. 13 for Conventional, eligibility can be granted after 2 years from date of discharge or 4 years from date of dismissal. <br/><br/><br/>Your bankruptcy is fine. Your credit can get better but is do able, and your income is fine. If you'd like some options worked up give me a call. Good luck! Thu, 19 Dec 2013 21:57:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-12-19T21:57:00Z It's hard to say whether ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ It's hard to say whether you would qualify or not without knowing more details. I would highly recommend to meet with a local, competent lender and get pre-qualified. That would give you the knowledge necessary to start your home search. <br/><br/>FYI: a pre-approval letter from a lender is required with an offer to purchase a house so it's very important to get that completed before you look for a house to buy. <br/><br/>Thanks,<br/><br/>Jason Walter<br/>REALTOR&reg; - lic #01923240<br/>Certified Public Accountant (CPA) - lic #103885<br/>Hammer Real Estate Group Thu, 19 Dec 2013 17:44:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-12-19T17:44:00Z It seems to me that you and ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ It seems to me that you and your husband should qualify. It's been long enough since the bankruptcy so you can likely qualify for an FHA loan. As the others have said, it has now reduced to a 1 year minimum so now you are definitely in the clear. If you want a conventional loan, you can do that as well but you will be expected to put forth a bigger down payment since it's only been 4 years. This down payment might be around 20% and can depend on the lender. It is hard to say right now how much you would qualify for. In order to figure that one out, I suggest you talk to a California lender, like myself. There are certainly some lenders out there, like myself, that would be glad to help you out with your situation. So don't be afraid to check out a lender or two.<br/><br/>Well I hope this helps! If you have any other questions or need a loan please contact me through the information on my profile page! Also, if you found this comment helpful please leave me a review on my profile page.<br/><br/>Good Luck! Thu, 29 Aug 2013 17:27:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-08-29T17:27:00Z I would echo what most of ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ I would echo what most of the other respondents said. FHA's old rules are that a foreclosure needs to be over 3 years old before you would be eligible to buy again using FHA financing. Just recently FHA announced that they would consider borrowers with a bankruptcy, foreclosure or short sale as little as 1 year ago if you could document at financial hardship. Since your situation was over 4 years ago and with a credit score above 640, it would appear you would be fine as long as all the other aspects of your loan application are in-line. <br/><br/>Your next step is to figure out whom to contact so that you can get fully pre-approved. I would suggest looking at profiles on this site and others such as LinkedIn, Tulia, etc. and call someone you feel comfortable with. Best of luck. Thu, 29 Aug 2013 16:11:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-08-29T16:11:00Z Looking at your scenario ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ Looking at your scenario you would be a great candidate for an FHA mortgage. With a 658 credit score and 90k a year income you may qualify for many homes in Sacramento. However it is impossible for any of us to say for sure without having more information.<br/><br/>The best plan, as others have mentioned, is to talk to a local lender and get prequalified. I would be more than happy to help and provide everyone that gets prequalified with me a comprehensive Total Cost Analysis that covers every angle of a number of different mortgage scenarios so they can make the most informed decision possible. Please let me know if I can be of any assistance.&nbsp;<br/><br/>Sincerely,<br/>Greg Cowart<br/><br/>Senior Loan Consultant - 17 Years Experience<br/><br/>Partners Mortgage<br/>Roseville, CA Thu, 29 Aug 2013 15:14:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-08-29T15:14:00Z My name is Kevin Juliff. ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ <p class="MsoNormal">My name is Kevin Juliff. Regarding your question about bankruptcy - I may be able to help. I work for a mortgage company called, <strong><u><em>[spam content removed]</em></u></strong>. A lot of my coworkers are licensed loan originators who would be more than happy to answer your question. Feel free to reach out to me at the contact info below, and I can get you in touch with someone to answer your questions.<br/><br/><strong><u><em>[Content removed by Zillow moderator, see our <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>.]</em></u></strong></p> Thu, 29 Aug 2013 15:03:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-08-29T15:03:00Z Your BK will likely be seen ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ Your BK will likely be seen as a foreclosure since you surrendered your home. An FHA mortgage would be your best option if that is the case. No one can tell you if you qualify, much less what you would qualify for without looking at your entire situation. I suggest you find a competent lender that can walk you through the process. Let me know if I can help. Thu, 29 Aug 2013 06:16:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-08-29T06:16:00Z I do not give my recommendation ... http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ I do not give my recommendation lightly because I have to trust a person completely.&nbsp; That being said, you should contact a lender I have worked with for over 5 years.&nbsp; I recommend him to all my clients and friends and family.&nbsp; He can give you the best advice as to whether you can obtain a loan now or what you will have to do to get one.<br/><strong><em><u>[Content removed by Zillow moderator, see our <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>.]<br/></u></em></strong><br/>Let him know I referred you.<br/>I know he will be very helpful to you.<br/><br/>Alex Thu, 29 Aug 2013 06:04:00 GMT http://www.zillow.com/advice-thread/what-would-i-need-to-qualify-for-a-home-loan-4-years-after-bankruptcy/509114/ 2013-08-29T06:04:00Z