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mortgage lending
if I've filed bankruptcy, how long will it take to get approved for a mortgage?
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tms1984
1 year ago
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FHA has these requirements if they apply to you: 1. Two years from BK discharge for sure for Chapter 7 and check into for chapter 13. 2. Three years from sheriff sale for foreclosure. 3. Credit reestablished with approximately a 640 mid score for a 3.5% down payment plus some closing costs. Debt to income ratio must be below very close to 40%. Good Luck.
nandog 1 year ago
It's been three years from the filing of my Ch 7 BK. I could have been approved for an FHA mortgage two yearas from time of bankruptcy discharge date. Convential mortages are more strict. I think it needs to be three years from the time of bankruptcy. I don't know if it's 3 years from the time of filing or from the time of discharge. And I think that some conventional lenders might require 4 years from the bankruptcy. And then you must meet all of the other mortgage requirements.
JohnHoer 1 year ago