FHA LOAN?

[Anonymous]

I am wondering how long you have to have been without a mortgage to qualify for an FHA loan? We are not first time home buyers, but would like to purchase using FHA if possible. What are the guideline regarding this?

We have credit scores in the 660 range, but have very little to put down on a home. We have no debt except one car payment that we hope to have paid off this year and our current mortgage. We filed bankruptcy 7 years ago and have no lates for the last 18 months (but do have some going back 24 months)

Thanks for any help.

The only reason we are moving is my husbands job is relocating him.

Thanks again!

[nicemann]

Most people think FHA is only for first time buyers.....It is not.  You should be able to qualify for it as long as you can give good reasons for any baddies on your reports.

[ShanetheMortgageMan]

AGST you sound like your credit should be fine to qualify for FHA right now, and FHA only requires 3% down so your "very little to put down" just might be enough.  Seller can pay your closing costs as well.  It would come down to what the income is, monthly payments are on the car, what sales price range you are looking in, and where at you are looking to buy.