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Should I even bother trying with an FHA loan, or wait two more years for a conventional loan?

I filed for bankruptcy two years ago, due to mostly medical debt. I just got approved for a FHA loan, I have the 20% downpayment, and got my credit score to the 700s. It’s the bankruptcy that’s preventing me from using a conventional loan. My realtor did not mince words warning me how hard buying a house would be with an FHA loan. Given how hard the market is now should I even bother trying, or wait until I can get approved for a conventional loan? Which means I’d have to wait another two years. Right now where I live houses go for anywhere between $150,000-$450,000 depending on the city or town they’re in. I’m really concerned about what the cost of housing is going to be two years from now which is what made me make the decision to attempt to look. If I bid more than what the house is listed for, which I can afford, I could probably bid $20-30k over asking price, do I stand any chance?

submitted by /u/CandaceJade1
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source https://www.reddit.com/r/RealEstate/comments/n9lc6a/should_i_even_bother_trying_with_an_fha_loan_or/
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  1. Jennifer K RobertMay 29, 2021 at 12:41 AM

    Hi everyone, I saw comments from people who had already got their loan from Anderson Loan Finance. Honestly, I thought it was a scam, and then I decided to make a request based on their recommendations. A few days ago, I confirmed in my personal bank account amounting to $15,000 dollars which I applied for. This is really a good news and I am so very happy that I advise all those who need a real loan and who are sure to reimburse to apply through their email (text or call) +1 719 629 0982. There are sincere loan lenders! They are capable to lend you a loan. Contact Mr Anderson E-mail: andersonraymondloanfinance@gmail.com

    Phone: +1 719 629 0982


    E-mail: andersonraymondloanfinance@gmail.com

    Office address is (68 Fremont Ave Penrose CO, 812400).

    ReplyDelete

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