– Bankruptcy does not automatically disqualify a borrower from obtaining an FHA loan. Minimum 2 years since discharge of chapter 7 bankruptcy.
As with Chapter 13 bankruptcy, FHA regulations demand a full explanation to be submitted with the fha home loan application. To get a new FHA insured mortgage loan after Chapter 7, the borrower must qualify financially, establish a history of good credit in the wake of the filing of the Chapter 7, and meet other FHA requirements.
Mortgage Questions and Answers from Bills.com – Bill receives a large number of mortgage questions from first. have wait for two years after a bankruptcy Chapter 7 discharge, before you will be approved for a mortgage loan. It is possible to be.