I'm only a year out of BK. I took that time to re-build some credit and save for a down payment. I accumulated an Orchard Bank card, Capital One Platinum, and Hooters MC. I managed to save up 20,000 for a down payment. A good friend put me in contact with his mortgage broker. I was a little concerned about using a broker because I've heard many bad things about how they try to bleed people dry. The one I dealt with was very nice and informed. She managed to get me into a loan with a rate of only 6.5% on a 30 year fixed. I purchased a $150000 home, but my actual loan amount was $130000 due to my down payment. I really didn't expect to get such a good rate, and before I signed a contract with her I shopped around out of curiosity. Other brokers I contacted were telling me I could only get a rate of between 7.5% and 9%! I don't get that, but hey, I'm not complaining.
All in all, it was a great experience. There is hope for owning a home after BK! I live in Florida, so if anybody wants my broker's name, PM me. I honestly don't know if she can do loans in other states...sorry. But I do know she can do loans anywhere in Florida, as she did a loan for a friend of mine in another city.
In case anyone is wondering, my lender is Argent Mortgage. Has anyone dealt with them? Are they decent as far as customer service, etc?
All in all, it was a great experience. There is hope for owning a home after BK! I live in Florida, so if anybody wants my broker's name, PM me. I honestly don't know if she can do loans in other states...sorry. But I do know she can do loans anywhere in Florida, as she did a loan for a friend of mine in another city.
In case anyone is wondering, my lender is Argent Mortgage. Has anyone dealt with them? Are they decent as far as customer service, etc?
Comment