If I've Had a Bankruptcy in Recent Years, Can I Get a FHA Loan?

Yes, generally a bankruptcy won’t preclude a borrower from obtaining a FHA Loan. Ideally, a borrower should have re-established their credit with a minimum of two credit accounts such as a car loan, or credit card. Then wait two years since the discharge of a Chapter 7 bankruptcy, or have a minimum of one year of repayment for a Chapter 13 (the borrower must seek the permission of the courts). Also, the borrower should not have any credit issues like late payments, collections, or credit charge-offs since the bankruptcy. Special exceptions can be made if a borrower has suffered through extenuating circumstances like surviving a serious medical condition, and had to declare bankruptcy because the high medical bills couldn't be paid.

#homeloan #mortgage #realestate #loan #refinance #homeloans #finance #loanofficer #mortgagebroker #loans #realtor #firsttimehomebuyer #personalloan #home #mortgagelender #investment #mortgages #realestateagent #homebuying #lender #creditrepair #mortgageloan #newhome #mortgagerates #lending #money #businessloan #business #homebuyers #mortgaghomefinance #credit #dreamhome #homeownership #property #creditscore #mortgagetips #mortgageloans #financialfreedom #broker #homebuyer #bank #homeowner #fha #personalloans #va #househunting #house #mortgagelife #fhaloan #preapproval #mortgageloanofficer #reversemortgage #homesweethome #businessloans #valoan #loanagainstproperty #california #homeloanspecialist #lenders #homebuyingtips #DPA #downpaymentassistance #DownPayment #mortgagerates #mortgage #nonqmloans #homeloans #homesforsale #realestate #realtor #MLO #loanofficer #loanservices #FHA #fhaloan #firsttimehomebuyer #fthb #househunting