“My wife and I have had a lot of credit problems, including a car repossessed. But we’ve kept good credit for the past couple of years. Now we’re finally ready to buy our first home. Will the lender find all our old credit problems? If so, how long do we have to wait before everything falls off our credit so we can buy a home?”
Yes, your lender will run your credit and find EVERYTHING.
Good news. Depending on many factors, you may well be able to buy a home right now anyway.
Perhaps your credit isn’t as bad as you think it is. Or you can get a type of loan with a slightly higher rate or cost that’s more forgiving on credit.
You should talk to our preferred loan professional, have him run your credit, and find out what kind of loan you’re eligible for. Just call or text me at (858)457-KENT and I’ll put you in touch with him…