Can I get a mortgage with a discharged Chapter 7 Bankruptcy?
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Can I get a mortgage with a discharged Chapter 7 Bankruptcy?
Question: I’m a first time home buyer, but have a chapter 7…
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Question:
I’m a first time home buyer, but have a chapter 7 bankruptcy that discharged 12 months ago. Is a non-QM mortgage my only option or is it possible for me to get a more conventional mortgage with a chapter 7 bankruptcy that’s been discharged a year ago?
Answer:
Unfortunately, conventional financing requires four years from the discharge date. You could try FHA, which only requires two years seasoning from the discharge date. Outside of that, non-QM would be your only option.
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