Posted on: 16th Feb, 2011 10:21 am
hello,
i'm planing on buying a property 1 yr after ch 7 discharge (private lender). i was wondering how easy would it be to refinance it with fha loan after another year? i'm also in a process of foreclosure of my current home that was included in the bk. thanks to anyone that can help answering my question.
i'm planing on buying a property 1 yr after ch 7 discharge (private lender). i was wondering how easy would it be to refinance it with fha loan after another year? i'm also in a process of foreclosure of my current home that was included in the bk. thanks to anyone that can help answering my question.
Hi Guest!
Welcome to forums!
You may get a FHA loan after a year depending upon the type of credit score and income you have. You should have a credit score of 620 in order to qualify for a FHA mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You may get a FHA loan after a year depending upon the type of credit score and income you have. You should have a credit score of 620 in order to qualify for a FHA mortgage.
Feel free to ask if you've further queries.
Sussane
Hi Sussane,
I can't find any broker who would do the FHA. My credit score is close to 700 and have stable income. Once they hear about the bk they say 2yrs. Any ideas?
Thanks
I can't find any broker who would do the FHA. My credit score is close to 700 and have stable income. Once they hear about the bk they say 2yrs. Any ideas?
Thanks
Welcome Guest,
As you've filed Chapter 7, you'll have to wait for 2 years in order to get a FHA loan and 4 years in order to qualify for a conventional loan.
As you've filed Chapter 7, you'll have to wait for 2 years in order to get a FHA loan and 4 years in order to qualify for a conventional loan.