Sure, fannie mae will give you an A paper rate only 2 years from a bk. Piece of cake...

Good news. Yes you can get a good rate. If you had a chapter 7 bankruptcy it must be discharged over two years. Then you can get an FHA loan. Just check, or call me, for the maximum FHA loan limits for your area.

If it is a chapter 11, where you restructure your bills, you can even go FHA if it has not yet been discharged.
You restructured debt repayment would have to be paid on time and you would need the bankruptcy trustee to approve the purchase of the home.

Fha rates are very competitive. In fact, they are not far off from the best Conventional lates available.

If your bankruptcy was less than a year old, it may be difficult. Some lenders will look for at least 2 years.

It is going to depend how long ago your BK was and how much of a downpayment you have.

Hi I am not a realtor. I do mortgages for JPMorgan Chase and we work with people who have filed bankruptcies. If you are interested in finding out more info Please let me know Thanks!!!

Last year, I had a client who was one year out of BK who was able to make a purchase and get a decent interest rate. He had 35% down though from the sale of his house...I would start working with a loan officer far in advance of your actual purchase so there are as few surprises as possible. Lending has gotten much tighter in the last year.

The FHA has loan programs if your bankruptcy is two years old. You can qualify with the FHA even if you've had a foreclosure that's at least three years old.

Good luck - it's a great time to buy!

Hi Linda. A bankruptcy usually has long lasting effects on your credit (I believe 7 years for sure). I don't know why your mortgage was not included as usually all creditors are affected, but frankly I don't think it matters a whole lot as it shows on your credit report regardless. I don't think your situation is necessarily hopeless. If you can demonstrate stellar payment history for the past 6 years since your discharge or payment plan (I am assuming you filed chapter 13, not chapter 7), then the lender may take that into account. It's discretionary and a loan agent may have to work harder to find a linient lender in the current market, but I think it's possible, especially since the bankruptcy happened so many years ago. . My suggestion is that you get advise from a very experienced loan consultant. You have nothing to lose by asking. Good luck.

over 6years ago, and we should have a minimum of $30,000 after we sell our current home. And yes we have complete documentation of our income. Also, my husband is a veteran and we will be updating his certificate of eligibility.

Possibly. How long ago was your Bankruptcy? How much of a downpayment do you have? Are you able to document your income?