I had to file bankruptcy because I had 3 vehicles in my name for my children who all went bust on me. The bankruptcy was dismissed a year ago. I have since purchased a car on a loan for $330 a month and I make $37,000 a year.
I want to purchase a 2 bed 2 bath home for $59,900 and can not find anyone to finance me. I will have about $6,000 to put down. Can you help? I had my credit score run 3 days ago and it comes back 597.
With the current lending guidelines, very few if any lenders will loan money to you being just one year out of bankruptcy.
Your best bet is to continue to save money and pay your bills on time. Once you have been two years since the bankruptcy discharge date, look into an FHA mortgage.
I congratulate you for improving your financial situation so quickly! I just do not know of any lenders that will loan money to people who have not put in the two year waiting time.
While you are putting in the waiting time though, continue to improve your credit. Your goal is to get your score to 620. That will give you better choices and a better interest rate.
I have tried to help my own family do this sooner, but they too had to wait the two years.
Keep up the good work! You will be in a home soon.