Conventional loans after Chapter 7 bankruptcy
I filed chapter 7 bankruptcy and this October 2022 will be 2 years after the case was closed. I have a credit score over 700 and have improved on it since I filed. I have researched and seen that for a conventional loan the waiting period is 4 years. Is that a fixed requirement or is it possible to get a conventional loan sooner if you show improvements in credit score and financial habits?
Michael,
You can get a loan now without any waiting. There are programs that allow you to refinance within the 1 mark actually with a score at or above 680. The biggest thing after a Bankruptcy is making sure you have no late payments in the last 12-24 months reported to credit. But since you have a 700 credit score that would be unlikely so looks like your good to go!
Michael,
I just file CH 7 bankruptcy in October. How did you increase your credit score to the 700 mark in 2 years? I just opened a new revolving LOC to Help me, but I'm looking for other ways as well.
Kay
