nandog

2,697 Contributions 987 People Helped Top Contributor

Member Since: February 2010

About Me: I have been in the engineering field for over 30 years. Also have mortgage, builder sales and an existing home sales back ground.

Most Helpful Contribution

how long for bankruptcy to fall off and how much does it impact my score

Aug 23, 2011
Helpful to 102 out of 109 people

10 years to fall off for a Chapter 7 and 7 years for a Chapter 13.  After a Chapter 7 discharge it possible to be over 700 after three years by rebuilding credit.  The falling off of the derogatory remark will add more points to your score.  Good Luck.

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how long for bankruptcy to fall off and how much does it impact my score

Aug 23, 2011
Helpful to 102 out of 109 people

10 years to fall off for a Chapter 7 and 7 years for a Chapter 13.  After a Chapter 7 discharge it possible to be over 700 after three years by rebuilding credit.  The falling off of the derogatory remark will add more points to your score.  Good Luck.

Do you need more the 700 credit score to get a good interest rate for auto loans

Oct 26, 2011
Helpful to 9 out of 9 people

Just checked with Genisis credit union +690 score gives 3.49% rate and +660 score gives 4.49% rate.  Shop around with your CK score until you find the right deal to limit hard hits.  Good Luck.

All my credit cards are paid off but it still shows I have a balance. When does it get updated?

Jun 03, 2012
Helpful to 10 out of 11 people

Give it 2 months after pay off.  

What score do I need to get a good home loan rate

Oct 25, 2011
Helpful to 10 out of 11 people

Conventional - +775 score, good job and at least 10% equity.

FHA - +620 score, good job and at least 3.5% equity but you will pay PMI ( ROUGHLY $100 FOR EVERY $100K LOAN )

If underwater new Government program starting Dec. 1 st.  Check out some recommended loan officers.

Good Luck.

Do you need more the 700 credit score to get a good interest rate for auto loans

Oct 13, 2011
Helpful to 14 out of 16 people

A plus 670 score will give you a great rate from a credit union.

With my bankruptcy can I buy a house

May 15, 2011
Helpful to 5 out of 5 people

To be considered for  FHA home loan you must meet the following requirments:

1.  Must wait after two years from BK discharge.

2.  Three years after foreclosure.

3.  You need a minimum 640 middle credit score.

4.  Credit must be be reestablished in the last two or three years ( during that period your payment history must be near perfect ).

You can buy a home for cash no problem but as far as low down payment FHA ( 3.5% DOWN ) is the way to go today.  Good Luck.

What credit score do I need to qualify for a mortgage?

Apr 30, 2013
Helpful to 9 out of 10 people

FHA may take you with a 640 but the PMI is now out of this world. A 3.5% rate may take the bite out of it. On a $200k loan you have about a $250 monthly PMI.

after filing bankruptcy, how do you improve your score?

May 26, 2011
Helpful to 9 out of 10 people

To build credit you must use credit.  Orchard Bank secured credit card.  Good Luck.

After filing bankruptcy in january how can i get my credit score up?

Aug 12, 2011
Helpful to 8 out of 9 people

Start off with a Orchard Bank credit card.  If you have a +560 credit score try for a unsecured card and settle for a secured card if needed.  Keep balance below 40% of the limit at all times.  Read all you can under credit scores on this site.  After 5 to 6 months get a Capital one unsecured credit card and your on your way.  Good Luck.

How Can I Improve Credit Score after Chapter 7 bankruptcy

Jan 05, 2012
Helpful to 4 out of 4 people

Get a secured credit card ( Orchard Bank or Capital One ).  Keep balance below 40% of limit at all times.  Read all you can under credit scores on this site.  It's quite possible for you to have a 700 score in 18 to 24 months.  Good Luck.

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