Follow up to my original question can we get a fha mortgage in illinois with a middle credit score of 623.

Good Morning. The information from FHA Underwriting Guidelines are here and as you will see, you can actually be approved with less than 2 years from the BK Discharge Date. Also, with regards to collection accounts, although they may not need to be paid to close your loan, a letter of explanation will be needed for the file. I can help you directly if you would like to work with a Trusted & Knowledgeable Mortgage Professional. A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-insured mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy. During this time, the borrower must have re-established good credit, orchosen not to incur new credit obligations. An elapsed period of less than two years, but not less than 12 months, may be acceptable for an FHA-insured mortgage, if the borrower can show that the bankruptcy was caused by extenuating circumstances beyond his/her control, and has since exhibited a documented ability to manage his/her financial affairs in a responsible manner. Note: The lender must document that the borrower's current situation indicates that the events which led to the bankruptcy are not likely to recur.

Hi Neighbor! You CAN get an FHA loan with a 620+ middle score. The BK would have to be the full 2 years out-and you should not have any lates since your BK.I would be happy to work on a pre-approval letter for you now. It would however state that you cannot CLOSE before June 16th, 2013.... but you can certainly look and make an offer in the meantime.You can be on the loan yourself and be qualified right now if you'd like, but then we can only use YOUR income. If you want to use your husbands income, then we have to close after June 16th. :-)KRIS KRAJECKIGREAT MORTGAGE524 S State St.Geneva, IL 60134630-347-6321IMCALLINGKRIS@AOL.COM

Small world / we used to live by the "castle" as my kids called it, Dunham and Army / Hello from Austin, Texas - we moved here from St Charles. PrimeLending is a Mortgage Banker and we lend nationwide / I'd also be happy to assist you with your mortgage needs. One of the things that you can do for yourselves is to utilize a credit monitoring service and make sure that you both agree with 110% of what is currently being reported to the bureaus. If you havent used www.annualcreditreport.com you can use them once a year, and this is the real mccoy. they offer scoring, so you can use that as a barometer, for making sure that your scores are 620+ in June, 2013. It'll be well worth the $10-$20 a month for the next 4 months. / Jeff Albrecht / PrimeLending / 512-381-4643

I would be please to discuss your options. And yes, you can get pre-approved prior to the 2 year mark. We can also look at having just you on the mortgage if your income would support the type of home you want to purchase. I'm right down the street in Bartlett. barb.lanis@1amllc.com 1st Advantage Mortgage 630-660-8868

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Yes you can get preapprove before the 2 years have passed but you will have to wait the full 2 years before you apply for a mortgage.