When will I qualify?

Tips and Deals Forums Home Mortgage When will I qualify?

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      Anonymous
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      I keep on getting different opinions on when I can actually qualify for a mortgage. Here is my background, filed for bankruptcy may 2008, discharged aug 2008, included an FHA loan from wells fargo. Sheriffs sale was july 2008, next deed jan 2009, sold sept 2009, cavrs dec 2009. Bankruptcy was from medical bills and a reduction in pay / hours, I went from 75,000+ – 45,000. Reaffirmed car, paid off dec 2009 late at the end 2 30 days and 1 90 day.

      Income 2009: 45,000 ; 2010; 58,000 2011: 23,000 (so far).

      I started late rebuilding my credit but currently have 1 car payment and 2 CC, never late, PIF, low utilization < 20%. Being prior military I also qualify for VA. I don't have a lot saved up right now but by summer plan on having 3-6k. I'm only looking to purchase a house that is 125k or less. * Scores TU 643 (Aug 2010) EQ 633 (April 2011) EX 625 (Aug 2010, Fico) * Area I’m looking at is Michigan, Oakland, genesse or livingston county. Thank you for your help.

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