My husband and I are hopefully purchasing a home this spring. My husband and I successfully finished a chapter 13 bankruptcy three years ago.
The bankruptcy came because of my husband being unemployed for nearly 18 months. He has a good job of nearly 12 years and is in upper management.
Our credit score is good now near 700 after years paying bills and a car loan on time. Our rental history is excellent.
We are not looking for an elaborate home. We want a ranch style older home. I have a real estate agent that I have used for our last 2 rentals. She will be the one I use to help us find our home. My husband has been prequalified for a mortgage through Quicken Loans. I consulted with a mortgage broker 2 years ago and she said that rental history is just as important as the credit score.
Should we use FHA through a private company or use a big lender? Why is it necessary to prequalify for a mortgage also? So many questions. Thankful for answers.
Read more: Do you work with a national big mortgage lender or FHA themselves?
