Qualify for a home loan

Trying to qualify for a home loan. Will adding my name to my parents savings account help?

I’ve been doing a lot of research in terms of qualifying for a home loan and can’t seem to find an answer to this. Many home loans require you to show a bank account statement of at least 3 months of savings. I unfortunately don’t have that but the monthly mortage is not an issue. Will my parents adding my name to their savings account allow me to still use that account as proof of the 3+ months savings to qualify for the loan? Will this help in any way towards getting approved for the loan. Thanks!

No because it may be considered community property. They want to see that you have the savings in case you lose your job, you will still be able to pay your mortgage for a few months. It is called reserves. They usually want to see at least 6 months worth of payments in a savings account. You may want to see if you can borrow the money from your parents and open up your own account. The lender will take savings, 401K, IRA etc. Any kind of money will do.

What kind of home loan interest rate could I get with a bankruptcy on my record?
I have a chapter 7 bankruptcy on my record from 2003, but I have no debt and a credit score of about 700. And I have $20,000 for a down payment. If I got a home loan, would the bankruptcy make a huge difference in the interest rate? How big a difference?

I had a bankruptcy back in 2001. My husband and I bought a house in 2004, and my credit score was about 700 as well. We had no problem getting the low interest rates that were available at the time. You have a fairly large down payment too, so depending on the cost of the house you want to buy, you should have no problems getting the lower rates. I think the standard rate right now is about 5.5-6.5%.