4 Comments November 29th, 2009

Can I get a home loan 1 year after bankruptcy?

just here for help and to help asked:


I am interested in buying a home for $60k and can give a 3% down payment. My bankrupcy was discharged a year ago and I have since financed a car and got a credit card to build good credit history. I have never been late with any payments. I think my credit score is 550. Would it be possible for me to get a home loan?
I am in northwestern Indiana

This entry was posted on Sunday, November 29th, 2009 at 10:57 pm and is filed under Home Loans. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

4 Responses to “Can I get a home loan 1 year after bankruptcy?”

  1. slogoing@sbcglobal.net Says:
    December 2nd, 2009 at 9:37 pm

    Everything I am seeing is 650 score and above. Talk to a realtor, and take your time, the 8k tax credit may soon be applied to down payments. 60k sounds like such a deal where are you?

  2. William Says:
    December 3rd, 2009 at 12:56 am

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  3. Andy Says:
    December 5th, 2009 at 6:25 pm

    Most lenders are not lending to anyone who doesn’t put at least 20% down. I recommend you keep renting, and save like crazy! 20% down will start you off with a good amount of equity in the house and avoid the Private Mortgage Insurance (PMI). Good luck!

  4. Nathaniel Says:
    December 8th, 2009 at 7:58 am

    A home loan, or mortgage, is most simply described as a loan taken out so that you can purchase a home. Here we’ll explain the very basics of home loans so that you can at least have a basic knowledge of mortgages and how they work.To obtain a home loan you will need to be at least 18 years old and have the income required to be able to easily afford the loan payments. While many mortgages are placed on existing homes, you can obtain a home loan based on units, condominiums, new construction or land packages.