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Can I qualify for a conventional loan?709 credit score,5years since my bankruptcy finalized, and6years since a foreclosure started

by sixpals166 from , South Carolina. Oct 11th 2014 Reply


Until a couple of months ago the answer would have been probably, if you were putting 20% down.But the guidelines changed in Mid August to remove that 20% clause and replaced it with extenuating circumstances. Which is a bit open to interpretation, however when one usually asks for clarification the answer comes back, "nothing but the death of a wage earner".There are other programs however that do still allow you to get a mortgage under the circumstances you presented. I am licensed to originate loans in the State of South Carolina and would be glad to answer anyour questions you might have about qualifying for a mortgage. Chris Newton Starkey Mortgage NMLS# 1083769843-695-7501

Oct 11th 2014
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Christopher Newton (cnewton@starkeymtg.com)
#51 ranked lender in South Carolina - 6 contributions

Sorry for the typos in my previous reply, that's what I get for trying to reply on my phone and fight with the auto-correct. As I mentioned I am licensed in the State of South Carolina and would be more than happy to answer any questions about getting you qualified for a mortgage. Thanks! Chris Newton NMLS # 1083769 843-695-7501 www.chrisnewtonloans.com

Oct 11th 2014
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Yes if that is best for you. I would look to to see if you qualify for any other programs like VA, USDA, or MCC. give me a call at 803-360-5934.

Oct 11th 2014
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Bob Schildt (bobschildt)
#43 ranked lender in South Carolina - 18 contributions

We do have a couple of loan programs that can help you. I have a branch office in Myrtle Beach and would like to help you. Please feel free to contact my branch office at 843-536-1027. Bob Schildt NMLS#: 922160

Oct 12th 2014
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Bobby Wallace (BobbyWallace)
#21 ranked lender in South Carolina - 6 contributions

Probably not due to government regulations/guidelines...and you have probably already talked with a bank/lender who didn't tell you what you wanted to hear:)...but you may have other options. Find you a good loan officer that will take the time to work with you to help you get from where you are...to where you want to be! Good luck....Bobby Wallace 843-200-5617 www.guildmortgage.com/officers/bobbywallacewww.freehomebuyingworkshop.com Guild Mortgage NMLS # 241036

Oct 12th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,516 contributions

Standard conventional loans (Fannie Mae and Freddie Mac) require 4-years go by since your bankruptcy, and that 7-years go by since a foreclosure. Foreclosure started in their eyes is treated as a full foreclosure. BUT, Fannie Mae, under their new guidelines, IF the house was in the bankruptcy, regardless of when the foreclosure happened, you only need to follow the 4-year bankruptcy wait period, not the full 7-year foreclosure period. www.MNHomesAndLoans.com

Oct 13th 2014
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Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 111 contributions

Yes we have some programs to fit your needs. We are local in South Carolina since 1997. I have a Myrtle Beach office 843-238-3600 and a Greenville office 864-438-4550. NMLS# 228446

Oct 15th 2014
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