FHA loan

[Anonymous]

I filed bk in 2011 2 years later had several late payments. I brought those accounts current and have had a clean credit history for the past 4 years. My credit score is at 700. Will I be able to get a fha loan?

[StartingOver10]

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@Anonymous wrote:
I filed bk in 2011 2 years later had several late payments. I brought those accounts current and have had a clean credit history for the past 4 years. My credit score is at 700. Will I be able to get a fha loan?

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You meet the time frame from discharge. It is much more difficult to overcome late payments after a Bk for mortgage purposes, but it can be done. Your score is fine. DTI is a factor for mortgages and you didn't specify what your ratios are now or projected to be at the time of application. Speak to a couple of good mortgage bankers. pm Shanethemortgageman here on the mortgage board for insight.

[enjoimorenow]

If you have had clean payments since those lates 4 years ago, I would consider some GW letters and ask that they be removed.  Worse they can do is say no, and there are many stories of people on here who just continued to send the letters after continually being declined, and were finally successful in having the derogatory marks removed from their reports.

A mortgage broker would be able to assist you in telling you if your scores are good enough (which i'm sure they are) and if there is anything you can do to increase your chances like lowing DTI, getting rid of the late marks, etc.