Can I be preapproved with a Chapter 7 bankruptcy in 2009 and a credit score of 603?

Yes we may be able to go FHA with 3.5% down. Give me a call, I should be able to help you - 888-320-7888 - Ken www.MortgageWholesale.net

Ms. Young, I would suggest you pay down your credit card to $100. This will increase your credit score to a more acceptable level. You will want you score at 640 or above. Your bankruptcy will need to be discharged for 3 years. If you have any further questions, don't hesitate to contact me at 239-936-4232.

If I were you I would pay down the credit card to have a $30 balance and then visit your local lender. They will run your credit and it should be higher than 603. Above 620 and a bankruptcy discharged for at least 36 months should allow you to get pre approved for an FHA mortgage. Best of luck!

There is work to be done.. You need to pay down your credit card to $30.. That should increase your score. Also, if there was a home involved in your BK, then you would have to wait till 3 years after the deed to the home was transferred out of your name.. Keep in mind that just because you file BK, this by itself does not remove you from the deed.. The clock starts ticking when the deed is no longer in your name. if there was no home involved in the BK, then 2 years is the waiting period, assuming you have no "Bad Credit" Since the BK.. if you do, it's going to be very tough for any lender to find you a loan... if you want to know for sure, you should contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

ON your fico score, your trustee of the bankruptcy , they are suppose to report all to the credit bureaus, but usually they are not accurate., so your score might be higher... call me at 602-330-1598 linda