HA loan 2 year post BK written in stone?

Simple question, do the FHA people only lend money to people who are 2 years post bankruptcy? Are there no exceptions of any kind?

If not, can someone email me or PM me some lenders who would work with someone a few months out of BK? Thanks.

I know nothing about FHA (maybe less than nothing, LOL) but for subprime lenders I think it is all about credit score DTI, income, LTV, etc.

Meaning if you get your score up, and have an acceptable DTI, you can finance a house. Having money down, to lower the LTV, doesn't hurt.

You can obtain a FHA loan with one year out of BK with documentable extenuating circumstances, job loss, healty issues, etc. It is very tough to get a loan 1 year out of BK with FHA 2 years is usually the norm, and you can not have any lates or collections since the BK was discharged. Your best bet is going to be a non-prime loan.

Nick,
I just got approved at 6.5% at 100% financing 12 months after BK. I have 1 new credit card and my score is 487. Sub-prime lenders wouldn't even consider me. I close in about 2 weeks. www.NLMCapproved.com

Nick,
I just got approved at 6.5% at 100% financing 12 months after BK. I have 1 new credit card and my score is 487. Sub-prime lenders wouldn't even consider me. I close in about 2 weeks. www.NLMCapproved.com


The banks must be getting desperate this close out of bankruptcy to do something like this.....

Interesting what happens when the economy slows down....