top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Qualifying for a low interest mortgage after bankruptcy and/or foreclosure.

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Qualifying for a low interest mortgage after bankruptcy and/or foreclosure.

    How long does it take to be able to buy a house again, at the best interest rate, assuming income can be demonstrated, and that a down payment can be made?

    #2
    Usually two years, but most likely you will need a nice sized down payment (10-20%).

    Comment


      #3
      Concur, 2 years. Actually, very few, if any mortgage lenders will even touch you (even with high interest rate mortgages) before that 2 years.

      Comment


        #4
        OP I bought a house this year just 10 months out of my BK7 including my pre-foreclosed home IIB on my credit report. This was a USDA zero down mortgage at 5.5%. But every other lender I talked to required 2-4 years including FHA financing. So unless you're going VA or USDA, you'll probably need 2-4 years and minimum 10% down.

        Comment

        bottom Ad Widget

        Collapse
        Working...
        X