Please send me your personal email and I will forward my lender's info to you.
He is the best I've ever worked with and knows all the programs in TX.
He is always available to answer questions and if there is something he can't do he will refer you to the right person.
VOX Real Estate
Most loan programs will allow a person to buy a home while still in a chapter 13 BK so the fact that your BK has been discharged should improve your chances of getting approved for a mortgage.
The main caveat is that you have to show you've re-established your credit since the BK. This is where things can get tricky.
Most lenders/investors require specific things when determining whether or not a borrower has re-established their credit. Here are the main ones. You can not have any derogatory hits on your credit so things like late payments, collections, judgments or charge offs after a BK will kill your chances of being approved for a mortgage. The second major requirement is the number of trade lines or accounts that you have open & active and how long they've been open. This one can vary from lender to lender but for the most part, lenders want to see at least 3 accounts that have been open for at least 12 months. Lenders can even take it a step further and require that one of the accounts has a credit limit of a certain amount like $2,500 or $5,000.
The last thing has to do with your credit scores. Most lenders now require a minimum, middle credit score of 640 or better for all borrowers on the mortgage but there are still a few of us that can go below that.
If you want to straight answers on whether or not you qualify right now & if not, what you need to do to get qualified in the near future, give me a call.
Senior Mortgage Banker
Peoples Bank & Trust Co.
Go After It!
Don is right. I'll speculate that the reason you keep getting conflicting information is that you are not getting directly in contact with the right professionals. Asking questions in an "Internet forum" and asking friends won't get you the answer you need. Give me an email or call directly and I'll help you with the right professional in San Antonio, if that's where you are looking to buy a home. Currently most lenders require a 640+ credit score from both of you
512-709-6343 or firstname.lastname@example.org
He works with a lot of first time home buyers and I trust him not to mislead you.
Below is my contact information if you are looking for a Buyer's agent.
Your friend in the real estate business,
Nancy Filgate, REALTORÂ®
ABR, CRS, e-PRO, GRI
Smart Source Realty
1001 Cypress Creek Rd., Suite 106
Cedar Park, TX 78613
Mobile: 512.351.1497 Home Office: 512.528.1651
Best of luck to you.
REALTORÂ® | Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
o 512.669.5599 m 512.633.4157
email@example.com | http://www.AustinListed.com