I need a VA Lender in Ohio that will help with a mortgage loan w/ a bankruptcy 4 yrs ago?

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My husband and I are looking for a va lender that could get us approved. We will have 30 percent down towards the purchase of this home .We had a bankruptcy 4 yrs ago, and have purchased 2 cars since then. One car is paid off, all payments on time. The other vehicle we are still making payments on, but all of the payments on time. We have no credit cards and this is our only debt. We have lived in the same place for 5 years and our landlord will vouch for us that we are always on time. Thanks

  1. Reply
    April 29, 2011 at 9:11 pm

    Then hire a Mortgage Broker

  2. Reply
    April 29, 2011 at 9:28 pm

    The bad thing about a car loan, basically you just need a pulse to get qualified for a car loan, it is MUCH easier than getting a mortgage.

    I would strongly suggest that you sit down with a local mortgage lender, perhaps where you do you banking, and see where you are. Most VA lenders only need two years of seasoning on the BK, so this may be quite workable for you.

    Do not go to internet lenders for this, many will sell and resell your information which can trash your credit score. In most cases, an internet lender cannot beat the package you will get from a local lender.

  3. Reply
    Lisa L
    April 29, 2011 at 10:22 pm

    Talk to a mortgage banker who knows government loans. See if FHA is better for you than VA. FHA is more lenient with BR than VA but I think you are still OK if it has been 4 years from discharge & you have re-established good credit. Just look at both scenarios & see what happens.

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