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I own a house in DC, but looking to move to Manhattan, NY. I filed for chapter 7 and got a discharge in November 2014.

I reaffirmed my mortgage debt and have been paying it. I also kept open an Amex with no debt on it, which I have been using and paying regularly.

Currently, my score should be 707, I have no debt. I want to sell my house and then buy a home in NY, I will have my 20% down payment from the first home.

I have tried some online mortgage rate estimator but, probably due to my bankruptcy, get no result. I do not want to go to a bank yet and have a credit check so not to hurt my score.

Is there any way I can get an estimate of what I can get and what interest rate without a credit check?

If I wait until after November 2016, to make it at least two years from the bankruptcy release, will it make a big difference?

I am looking for about a $400,000 place, $80,000 down, I have a good salary. P.S. It was actually a chapter 13 filed in 2012 converted to chapter 7 in 2014 and finally discharged in November 2014, if that makes any difference.

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    What size apartment/house do you expect to buy for $400K in NYC? – JTP - Apologise to Monica Aug 8 '16 at 1:40
  • A small 1 bedroom or studio in upper east side, there are a few on zillow and I spoke to a realtor who told me I can get one for 400,000. I am not looking for a mansion. – user Aug 8 '16 at 1:43
  • Ok. I took the word 'house' too literally. I'm glad your expectations are reasonable. – JTP - Apologise to Monica Aug 8 '16 at 2:43
  • Changed house to home – user Aug 8 '16 at 3:12
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It's doubtful you'll find anyone who can give you a credible estimate of anything without running a credit check on you, since your mortgage rate is always going to be directly correlated to your credit score. That would be the equivalent of wanting to obtain a rate for medical insurance without letting the insurers know your medical history.

Here's the thing - When you go shopping for mortgages, U.S. credit rules allow you to rate-shop for a 30-day window without incurring a "hard pull" against your credit for each inquiry run by potential creditors, so you don't suffer the consequences of multiple inquiries the way you would if you were applying for multiple credit cards.

As to your question about waiting until you're past the two-year mark to apply with a bank, that's not a bad idea if you can wait. The further away from the discharge date you are, the better. There's no hard and fast rule on this, and so it will vary from lender to lender. Regardless, having a bankruptcy on your record, even one that's two years' past, is going to impact your ability to obtain a mortgage at a low rate.

I hope this helps.

Good luck!

  • Actually I can get my own score, and that's not a hard hit, and someone could use the credit report and score I provide to give me an estimate. It may not be 100% accurate, but definitely in the ballpark, which is all I am trying to determine. – user Aug 12 '16 at 3:29
  • That's possible, although it's going to depend on how "ballpark" you want that number to be. They may be reluctant (or unwilling) to use a consumer-provided score, but you could be right that someone might give it to you. – Daniel Anderson Aug 12 '16 at 4:03

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