My husband, I care are interested in finding out if we can get a mortgage w/ a bankruptcy & 0 Do

The bankruptcy is over 4 years old and our credit is above 650 and we make close to 6 figures a year, is it possible to get a decent mortgage?

My husband, I care are interested in finding out if we can get a mortgage w/ a bankruptcy %26amp; 0 Down...?

In this market, not likely, but yes possible if you get the right broker. Some brokers know how to manipulate around those types of problems. Agencies like Fannie May can also help you get a loan.... but not the best time to buy real estate. If you and your husband can wait, it would be a good idea to until this market turns around. Plus it would give you some time to save up for some sort of down payment.

My husband, I care are interested in finding out if we can get a mortgage w/ a bankruptcy %26amp; 0 Down...?

Even in today%26#039;s market, you may actually be able to find a loan at a decent rate. Fannie Mae and Freddie Mac have programs to encourage home ownership for lower and middle income people. (MyCommunity and HomePossible) These programs still allow very high LTV and lower credit scores.

While there is an income limit, and you probably exceed it, if you purchase in certain neighborhoods, the income cap is waived. This is to encourage the upper middle class to revitalize urban neighborhoods.

If you go to the Fannie Mae web site, http://www.efanniemae.com, and look for a link to MyCommunity, you can find information and maps showing which areas qualify in your city. Many lenders and state housing authorities have similar programs, too, but they all tend to cover the same areas.

My husband, I care are interested in finding out if we can get a mortgage w/ a bankruptcy %26amp; 0 Down...?

While the old bankruptcy could be considered, the hard part for you now is that the requirements for qualifying have stiffened, to the point where some who were ready to close on loans, no longer qualified. What I suggest you do is talk to a professional. Talk with several lenders in your area that can place FHA mortgages. Let them prequalify you on your financial status now. As much as I love answering questions for folks, I%26#039;m not a professional loan officer, but I do caution folks to use local lenders. Some of the lenders on the Internet won%26#039;t be available if something goes wrong, believe me. But I would also suggest you save some money for down payment. Having some money saved only makes your financial picture look better and you want it to look good for a lender. Good Luck!

My husband, I care are interested in finding out if we can get a mortgage w/ a bankruptcy %26amp; 0 Down...?

Probably but not guaranteed. Probably will have to come with a decent down payment... zero down right now is tough unless stellar credit (way above 650 -- more like 750-800) from what I am hearing. Talk to the bank that sees your banking records and see if they are lending any special programs right now.... it never hurts to ask.

My husband, I care are interested in finding out if we can get a mortgage w/ a bankruptcy %26amp; 0 Down...?

Why is your credit so lousy if you make that much income? Something tells me you are terrible at managing money so I think a bank is going to say no. If you make close to a hundred grand a year, why can%26#039;t you scrape anything together for a down payment? Please don%26#039;t tell me you both have high car payments. That would just be stupid now, wouldn%26#039;t it?

My husband, I care are interested in finding out if we can get a mortgage w/ a bankruptcy %26amp; 0 Down...?

i am sorry the way the market is you cant really do anything with 650 and 0 down you probably wont be approved. i was a mortgage broker in the past