Financing in 33321>Question Details

Donnaflorida, Renter in Fort Lauderdale, FL

Can I get a FHA loan while in my 3rd yr of chptr 13, job for 12 yrs,all pymts on time, score over 700. will be able to get apprd by trustee?

Asked by Donnaflorida, Fort Lauderdale, FL Tue Mar 5, 2013

1 vote Share Flag Financing in 33321

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Hi Donnaflorida,

There are many variables relative to your question. I would need more information.

You may conact me if you would like to discuss.

Matt Tarka
Licensed Mortgage Professional
Serving All of Florida
888-246-9060 Toll Free
954-605-2450 Direct
954-343-8098 Fax

Clear Mortgage Lending, Inc
5200 North Fderal Highway
Suite 2
Fort Lauderdale, FL 33308
2 votes Thank Flag Link Tue Mar 5, 2013
The answer is Yes;

From HUD:

"4155.1 4.C.2.h Chapter 13 Bankruptcy

A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-insured mortgage, provided that the lender documents that
• one year of the pay-out period under the bankruptcy has elapsed
• the borrower’s payment performance has been satisfactory and all required
payments have been made on time, and
• the borrower has received written permission from bankruptcy court to enter
into the mortgage transaction."

Assuming your debt ratio is in line, with a 12 year employment and 700 score you should be in good shape.
0 votes Thank Flag Link Tue Mar 19, 2013

Your best bet is to speak to a trusted mortgage professional, who can sort through the particulars of your circumstances.

If you need a referral, let me know!

Chad Gray PA, Realtor
Luxury Living Fort Lauderdale
Coldwell Banker Residential Real Estate

100% of clients rated our service as "EXCELLENT"!

0 votes Thank Flag Link Tue Mar 19, 2013
BTW- I closed a loan for a guy on 100% financing on a 270k purchase who was 12 mo. + into his CH 13.

0 votes Thank Flag Link Tue Mar 5, 2013
After reviewing programs below, please call me to go over loan options.

1) 100% LTV- VA - pay off debt at closing on a purchases too!
2) 100% LTV- USDA - 12 mo. into Chapter 13 BK…OK Too!
3) 99% LTV- FHA
4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!
5) 95% LTV- NEW-No PMI!
6) 95% LTV- NEW-CONDO Loan
7) 90% LTV- NEW-No PMI -2nd Home
8) 90% LTV- New-Jumbo w/cc
9) 85% LTV- NEW- No PMI to Super Jumbo
10) 80% LTV- Rental Property

------------STATED INCOME ALT Loan programs-------------
11) 80% LTV- to Super Jumbo
12) 80% LTV- FIX n’ FLIP Invest. Prop. – No min. credit!
13) 75% LTV-to Mega Jumbo
14) 75% LTV- Foreign Nationals-to Super Jumbo
15) 75% CLTV-after Short Sale, BK, Foreclosure to Super Jumbo
16) 70% LTV- Hard Money to Jumbo
17) Lot Loans / Land Loans Too!

Go to: http://WWW.PRO-OPTION-COM or call 888-662-4404

Steve McRory
Pro Option Mortgage/ Florida
Ph: 888 662 4404

Prior Service U.S. Marine Corps
0 votes Thank Flag Link Tue Mar 5, 2013
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