This maybe be well known but I thought I would put it out there. With a fico of about 620 a lot of lender are willing to finance your mortgage 100% no down payment. But if you have a bk you will need to wait 2 years from discharge to get these programs. Patelco advised me that I could apply around February about 2 mth shy of my 2 yr anniversary. Also try to get hooked up with a Realty that can help you avoid closing cost....meaning they have homes where the seller is willing to front you the closing. I also spoke to Wells Fargo and they maybe able to get you in a little early also.
I have found a few lenders that have programs for 80/20 financing (at pretty high rates - 8.5%+) with a mid-score of 600 and a recent bankruptcy . . . less than 6 mo. aging. Just thought I'd add my $.02. There are a few programs out there. anewleaf
Thanks for the info. My bk was discharged 10/2001. Does anyone know any other companies that offer a good program or better rates?
Do you recomment contacting this companies by yourself or working with someone like a broker to look for the best loan?
I actual got my information from a realtor I contacted. I think either a realtor or Broker can help you. My advise would be to pull all 3 report 1st and see where your scores are and if possible make any correction to your report prior to them pulling it.
