Home loan after discharged chapter 13

Asked by Sarah, San Antonio, TX Thu Feb 21, 2013

My husband and I completed our chapter 13 and had it discharged in August of last year. Since then we have been working hard on establishing new, healthy credit with secured and unsecured cards. Each bill has been paid on time, including all student loans.
Our scores range from 651-610.
We would love to buy a home, and would be first time homebuyers, but we keep getting conflicting information as to whether or not we qualify.
Can anyone please give us some solid advice!!?

Help the community by answering this question:

+ web reference
Web reference:


Lara Pavanelli’s answer
Lara Pavanel…, Agent, Austin, TX
Thu Feb 28, 2013
There are many factors to getting qualified for a loan, the credit score alone is not enough and also there are a number of different programs that you can apply for depending on your situation.
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.

Kind regards,

Lara Pavanelli
VOX Real Estate
0 votes
Claire McInt…, Agent, Austin, TX
Thu Feb 21, 2013
Raise your credit scores so both are above 650 or as high as possible. Talk to a mortgage lender and get there recommendation for a credit repair firm. A legal one that can help you improve your scores. Sometimes there are things on your credit report that are old and should have fallen off already. A credible credit repair company can get that done for you. They will also tell you more to do to help raise your scores. Sometimes it just takes more time to establish good credit and let the bad stuff go away or be overshadowed by the good.

Go After It!
0 votes
Bill Austin, Agent, Austin, TX
Thu Feb 21, 2013
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 bill@teamprice.com
0 votes
Don Groff, Agent, Austin, TX
Thu Feb 21, 2013
You may be able to do something now. I would speak with a broker who can look and speak with several different lenders. From an FHA standpoint you would qualify now if your credit is in order but lenders establish their own overlays that may be more strict. For this reason you need to speak with somebody who can look at your credit history and find you the best lender. Feel free to call me if you would like to discuss further.

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more