1994 Honda Accord 1994 Accord knocking noise

I have just purchased a 1994 Honda Accord. The only thing is, it has a fairly loud knocking noise when going over bumps coming from the front. The noise seems to go away at highway speeds and is most prominent at 5-45mph. The rebound on the suspension seems fine to me. What could this noise be from? Also, the brakes are very soft but do not quite reach the floor. The car stops without making a squeel noise though when stopping from higher speeds it does vibrate a little. Thanks!