I'm looking to a buy a home after claiming bankruptcy about a year ago. I have found a great job and was able to bounce back. I'm available to provide at least 20% of the purchase price.
But after speaking with a loan officer, he told me there were no options available for me until I met the FHA restriction.
Are there any options I have available? Or will I have to wait?
Any help would be great!
@Andres Guillen You have portfolio loan option open for you but interest rate will be higher. 2nd option will be if you can prove there were extenuating circumstance which was beyond your control.
with a Ch 7 or 11 BK ...most conventional lenders / programs require 4 yrs since discharge before a new loan is possible ...with a CH 13 - 2 years
with a Ch 7 BK ...most FHA lenders / programs require 2 yrs since discharge before a new loan is possible ...with a CH 13 - 1 years ( plus re established credit is needed along with all accounts paid as agreed from discharge date )
there are some lenders that might offer programs before these waiting periods ...but these likely have rates 2% higher than " regular " rates and down payment requirements likely higher