They say its the best time to buy a home, here's my situation I went bankrupt at the end of 2005...?

and it was discharge in Jan 2006. I co signed a car loan which is $19,000 (paying off $500/m) and my personal debt is 2g which i am planning to pay off in two months. My credit score is Trans 660 Experian 669 %26amp; Equifax 660. How much can i expect for loan and interest if so, and can i do 100% financing with no money down.They say its the best time to buy a home, here's my situation I went bankrupt at the end of 2005...?
Actually you can get financed for about 6 or 6 1/2 %. You can also get it with no money down if you play it you cards right and depending how desperate you are to buy a house. Once you get pre-approved lets say for 100k. You find a house you like with a asking price of 95k. The seller already knows it's a 15k market and does not expect to get asking price. You could offer him asking price if he pays all closing closing cost and you 3% down payment. Depending how much he is already going to make on the house and how desperate he is to sell he may just take the offer. I've known alot of people to buy their house like this.They say its the best time to buy a home, here's my situation I went bankrupt at the end of 2005...?
You will not get 100% financing. Especially with a bankruptcy in your past. Also, your scores are too low IF you were even able to FIND someone who gives these types of loans.



Your best bet is to talk to a lender, see what you can afford, and how much out of pocket you are going to need. FHA is 3.5% down. If you cannot come up with 3.5%, you aren't ready to buy a house.



It has reverted to the old days of how houses were bought: People actually had to bring some money to the table and prove they could save! LOL
There is no 100% financing. You need cash, 3.5% for FHA or 20% for any other. Lenders are demanding credit score of 750 and up

But that bankruptcy being only 3 yrs ago is the killer. If by chance you do find a lender you should expect a rate of 12% You are high risk
There is no such thing as a no-down loan anymore. Your credit scores are still too low. It has barely been 3 years since your bankruptcy was discharged, and you have quite a bit of debt again already. Get that personal debt paid off, get the car loan down below half the original note. Save up a healthy down payment (20%, especially since you have a recent bankruptcy), plus closing costs. Then your bank might talk to you about a mortgage. Do not spend money on application costs, etc, for pre-approval when you do not have all of your ducks in a row. Save it up towards the down payment.



FHA is supposed to be 3.5% down. They aren't being funded, and with a prior bankruptcy you won't get it. Not yet.