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Do I qualify for an FHA or phfa loan

Posted on: 23rd Jul, 2012 06:57 am
40 months ago I had a home foreclosed on and 2 years ago I went thru a ch 7 bk. since the bk I have not defaulted on any debt n my credit scores are 679,679,and 669. My total debt per month is 65 dollars and my gross income is 2200 a month. Would I even qualify? I'm looking for homes within my 31% debt to income ratio. Any advice would be helpful
Based on the information you provided, it sounds like you would be a candidate for an FHA loan. Feel free to click on my profile and contact us, and we will review your mortgage options.
Posted on: 23rd Jul, 2012 12:47 pm
Hi ChrissyS,

Other factors to consider are bankruptcy and foreclosure. If you had a Ch 7 bankruptcy discharged more than twenty-four months ago, or successfully completed a Ch 13 with satisfactory payment history, you are still eligible for an FHA loan.

Hope this can help you! :idea:
Posted on: 23rd Jul, 2012 08:32 pm
hi chrissys!

welcome to forums!

as 2 years have passed since your chapter 7 bankruptcy discharge, you can get qualified for a fha loan. you should contact the local fha lenders and take their help in this process. this community has a large number of lenders. you can seek a no obligation free mortgage quote from them and check out if they can help you in getting the loan.

feel free to ask if you've further queries.

sussane
Posted on: 23rd Jul, 2012 08:39 pm
Yes, you qualify.
Posted on: 24th Jul, 2012 09:28 am
Since 2 years is over since the Chapter 7 bankruptcy, and moreover since you have a good credit score, you may be a good candidate for an FHA loan.
Posted on: 16th Aug, 2012 03:09 am
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