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Bama asked in Business & FinanceCredit · 9 years ago

do i still qualify for an FHA loan?

i had a bankruptcy in 2009. am i still eligible for this loan if purchasing my first house and i have gotten my credit score back up to the 670s?

2 Answers

  • ?
    Lv 6
    9 years ago
    Favorite Answer

    FHA requires two years after a Chapter 7 is discharged, or at least one full year of timely payments with a Chapter 13 payment plan. A link to the guidelines in the HUD website is posted below. Underwriters will have no tolerance for late payments made after a bankruptcy. Your score is high enough, so if you meet the income and down payment guidelines the bankruptcy won't keep you from qualifying.

    Source(s): Licensed Loan Officer in Ohio
  • 9 years ago

    going to be very tight. debt income ratio? savings?

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