FHA Loan after chapter 7 discharge, Never had a mortgage before

mikem456

Junior Member

Bankruptcy Newbie

Joined: Dec 2015

Posts: 20

State: New York
#1

FHA Loan after chapter 7 discharge, Never had a mortgage before

12-08-2016, 12:38 PM

Hello I recently had my chapter 7 case discharged in Oct 2016. It was mainly credit card debt as I never had a mortgage before. I am looking to purchase a home now with an FHA loan. I am 26, My credit score is 640. Do I have to wait to apply for an FHA? What are my chances?

Thank you
Tags: None
LadyInTheRed

Senior Member

Bankruptcy Guru

Joined: Dec 2009

Posts: 7718

State: California
#2

12-09-2016, 03:54 PM

FHA requires you to wait 2 years after discharge. An individual lender may require a longer period.

LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!
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