My credit score is 660. Can i get a mortgage?

Question

I filed for chapter 7 bankruptcy in 2005.

Answer 1

Yeah, but you pay more in interest charges

Answer 2

chances are slim to none.
I just bought a house in sept and the bank told me my credit score which was 735. They said they wouldnt even look at anything under 678. My advice would be spend time building up your credit score by paying your bills on time, avoid getting to many inquiries in a short period of time, dont go over you credit limit, carry low balances on credit cards and just give it a little time. A bankruptcy will stay on your credit report 7-10 years depending on how you filed so I would advise you wait abt two years before trying to purchase a house.

Good luck

Answer 3

Yes. There are many option available which include 100% financing. Keep in mind, the higher loan-value you require...the higher the rate. The score is ok and as long as you have a decent job I know of multiple options.

I write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.

Answer 4

Yes, you are just going to pay out the butt.. they wont care about your current score, they will only use the bankruptcy to justify their mortgage rate. They will require more down.

Anyone can buy a house nowadayz.. its just affording the payments. Be careful to be modest. There is going to be a crash one day and poeple are going to lose everything if they are not being modest and wise.

Good luck, I"m doing a rent to own house for two years renting and then purchase it due to my bankruptcy. This will help continue to build my credit back up in two years and will show good faith. Its the way to go, you might want to consider it.

Answer 5

If your credit is 660 then that is Great! That is very good score. 800 is perfect so you my friend are on your way. You should have no problem getting any loans, although the banksrupcy doesn't look well, your credit score may offsset it.

I say Go For It.

Answer 6

I'd wait another 12 months......its the last 24 months of activity that are MOST important when applying for a loan. You will still pay a higher interest rate, but if you apply now, you'll probably get stuck w/ a sub prime loan. Sub prime loans are horrible loans for the bottom feeders and very restrictive w/ super high interest rates.

Answer 7

you should be able to, your intrest will be higher.. but i think in most cases when you purchase a house it stands for itself so if you dont or cant make the payments they will always turn around and sell it, i go a one hundred thousand dollar loan when my credit score was around 645 but i didnt have a bankruptcy on my credit either

Answer 8

as long as your bankruptcy has been discharged you can,
but you won't get the best possible rate.But you most defianately
can with a 660.good luck

Answer 9

Doubtful....youre credit score tells the bank or lending institution how risky you are....and 660 is very very risky...you need to wait and work on your credit score.

Answer 10

yes you can the hire your score the better chance of getting a mortgages.

Answer 11

You can get a mortgage. But you don't want to get into something that may kill your pockets. So the best thing to do is be reasonable. E-mail me for more info [e-mail]