With a bankruptcy 2 yeas ago and restablished credit card history, with no outstanding balances, steady long term work history and a substantial downpayment, does a person have a good chance at a decent mortgage interest rate? Oh, current mortgage was never in default and always current. Thanks.
2007-01-18 12:56:40 · 3 answers · asked by angrycelt 3 in Business & Finance ➔ Personal Finance
Go to LeaningTree.com see what you can find out there. Loan rates are most often based on credit score. Bankruptcy brings that score down very low. The fact that your current mortgage is in good standing is a plus for you.
2007-01-18 13:05:55 · answer #1 · answered by starfire 4 · 0⤊ 0⤋
I once talked to a person who had restored her credit score to about 740 less than 12 months after filing for bankruptcy. Ever circumstance is different, so you really need to talk to a mortgage broker to see if your current credit allows you to get a good rate.
2007-01-20 09:30:17 · answer #2 · answered by Carl 7 · 0⤊ 0⤋
Yes you do, try finding a broker that handles FHA mortgages. That will get you your best rate under your circumstances.
2007-01-18 21:04:40 · answer #3 · answered by kelly h 3 · 0⤊ 0⤋