Trying to find a mortgage loan

[HOMEBODY]

i am 2-1/2 out of BK and looking to find a mortgage in Southern California. I have saved the 20% needed for the downpayment. i heard that FHA loans have better rates.

Thank you.

[justbroke]

You may still find trouble obtaining a loan. Whether you can receive a mortgage loan will depend on your credit score, your debt to income factors, and the lender's guidelines. While FHA would allow for a mortgage loan with just 2 years of seasoning post bankruptcy, lenders tend to be more stringent with some demanding 3 years.

I think the downpayment, if even required, is the least of your hurdles/worries. Check your 3-bureau FICO score (which you can only really get 2 of them -- Trans Union and Equifax). Then you need to shop, shop, shop the loan.

I'm sure a lot of people on this board would love to hear about your journey and when you finally close on a home. Best wishes.