Posted on: 04th Mar, 2009 05:09 am
I'm a little over 2 years out of a foreclosuer. My credit score is 620. Can I qualify for a loan if I put 20% or more down? and if so what would the interest rate be?
Hi rlb,
Since 2 years have elapsed after the foreclosure, the credit is good and you are ready to pay 20% or more down payment, I think you can qualify for a loan. However, the rates will vary from one lender to another. You need to shop around and talk to various lenders in this regard. You can also check the Free Obligation Mortgage Quote link in the home page of this site.
Since 2 years have elapsed after the foreclosure, the credit is good and you are ready to pay 20% or more down payment, I think you can qualify for a loan. However, the rates will vary from one lender to another. You need to shop around and talk to various lenders in this regard. You can also check the Free Obligation Mortgage Quote link in the home page of this site.
most guidelines call for a 4 year wait, along with reestablishment of good credit.
Is the foreclosure still showing on your credit? And if so, what is it stating beside it? If it is cleared you may be able to. Right now with your credit score you would need to go into a FHA loan. So i would call a couple brokers and see what they can offer.