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- If the bankruptcy was discharged more than 2 years ago, it may be disregarded
- If the bankruptcy was discharged within the last 1 to 2 years, it is probably not possible to determine that you and/or your spouse are a satisfactory credit risk unless both of the following requirements are met:
- you and/or your spouse have reestablished satisfactory credit, and
- the bankruptcy was caused by circumstances beyond your and/or your spouses control (such as unemployment, medical bills, etc.)
- If the bankruptcy was discharged within the past 12 months, it will not generally be possible to determine that you and/or your spouse are satisfactory credit risks.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agoYes you can. Don't believe anything you read on here and the right loan officer can make it happen. Do your research and check more than one.
With that said, you do need to reestablish credit, be in good standing since your Bankrupcy. If you do everything right, you will get a loan just like we did.
Good luck.
Wiki User
∙ 15y agoGenerally, any credit for a number of years, especially mortgages, are so difficult as to be impossible.
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Where can one learn more on FHA mortgage refinancing?
There are many websites with information on FHA mortgage refinancing. These places are great for learning about FHA mortgage refinancing, as a person does not have to leave their home to read up on it. FHA, The Mortgage Reports, Zillow, Bank Rate, and NASDAQ all have information on FHA mortgage refinancing.
when will a person be egible for a fha loan after having been in bankruptcy?
To receive a FHA loan after one has declared bankruptcy one has to meet the following minimum requirements: payment on the bankruptcy for at least one year, court approval to enter into the mortgage transaction, and a minimum of two years waiting period from the date of discharge before he or she can apply for the loan.
Where can one find out information about how to refinance an FHA mortgage?
The primary source of information concerning the refinancing of an FHA mortgage is likely to be the dedicated FHA mortgage website. Alternatively, information may be sought from online blogs.
What are the interest rates for an FHA loan?
The interest rates for an FHA loan differ depending on the type of FHA mortgage, such as adjustable rate, fixed rate, energy efficient mortgage, graduated payment mortgage, etc.
Do FHA regulations prohibit a insurance agent from originating FHA mortgage loans?
You can as long as your new profession isn't mortgage industry related.
What is the difference between a Conventional and an FHA Mortgage?
FHA loan requires 3% down.
Where can you find fha home mortgage?
The FHA or Federal Housing Administration does not currently offer any home mortgage service. They actually set the rate that companies follow when doing FHA-backed mortgages.
CAN I QUALIFAY FOR A HOUSE LOAN IF I HAD CHAPTER 13?
Yes it is possible to qualify for a mortgage despite a Chapter 13 bankruptcy filing. In a Chapter 13 filing the debtor agrees to a court structured debt repayment schedule. Typically, after making payments on time to creditors as required by the bankruptcy agreement an individual can be discharged by the Court from the Chapter 13 proceeding. Once discharged from bankruptcy an individual can apply for a mortgage. Each bank has different rules about how soon someone can apply for a mortgage after a bankruptcy. Most people coming out of bankruptcy apply for an FHA mortgage loan since this program has the most lenient underwriting standards.
What is a great FHA mortgage rate.?
In order to find out what a good FHA mortgage rate is you may need to consider speaking to someone who deals with this kind of thing as a living. Perhaps a mortgage broker?
Do both parties on a joint mortgage have to file bankruptcy on a joint mortgage?
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
Is FHA mortgage owner occupied?
If you're trying to obtain an FHA loan then the answer is 'yes'. If you own an investment property that has an FHA loan, then you can streamline it.
FHA Mortgage Loan Calculator?
FHA Mortgage Loan CalculatorUse this calculator to determine the maximum FHA mortgage that would be allowed for your home purchase and an estimate of your required downpayment and closing costs. This calculator is designed to determine the mortgage FHA limit for a particular purchase, not the maximum allowed for any home in your state and county. To determine the maximum purchase price for your area you should use https://entp.hud.gov/idapp/html/hicostlook.cfmat the HUD.gov. Then use the calculator below to determine the required downpayment and FHA mortgage limit.-
