can i get mortgage financed after discharge?

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dismissed bankrptcy 1X but then pd in full & discharged 1/06; have paid car loan 2 yrs never late (only current credit); i am with a debt correction company for only 2 mo & some things have been deleted. now have 626, 610 & 650 credit score. I am currently saving $ 10,000 (hopefully for settlement). i make approx $ 4918 mo gross & have a p/t job ($ 450 mo-working 2 years). can i get a prime mortgage lender to finance a house ($ 150,000), what interest rate do you think i would get?

4 Comments
  1. Reply
    Michael Z
    May 17, 2011 at 6:49 am

    Why not checking also with financial institutions & lenders? Those people have the knowledge and are there to help you, even though they want to profit from you at the end but that’s also a matter of lender shopping in order for you to get the best mortgage.

    Find some interesting news articles about the subject here:
    http://www.lendadvisors.com/

  2. Reply
    Ember
    May 17, 2011 at 7:35 am

    I just need to know if you are in Canada, the US or elsewhere.
    Due to your past history a lot of finacial instutions are relucent to give you prime rate due to your prior finacial history. The current rate in Ontario for CIBC is 6.250. However this will probably fall in March. A lot of Canadian companies also will not want to lend you money if more then 40% of your income is going towards debt. Best to talk to fiancial advisor, most are free advise at the banks

  3. Reply
    Angela S
    May 17, 2011 at 7:51 am

    problem-ably not going to get a prime loan. the new cut offs for them are a 700 credit score for more lenders now. Look into FHA programs. Be patient. Work with a good Realtor that has contacts with mortgage brokers. Lot of Luck!

  4. Reply
    Carolinahomerates.com
    May 17, 2011 at 8:25 am

    should get no higher than 7% with a fha mortgage.

    the Underwriter will need to make a decision to see if you have re-established credit history.

    normally, it’s 1yr from bankruptcy from the date of discharge

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