Chapter 7 bankruptcy requires the borrower to wait at least two years from the date of discharge.

Chapter 13 bankruptcy requires the borrower to have been paying on the bankruptcy for at least one year, performance must have been satisfactory and the borrower must also receive court approval to enter into the mortgage transaction.

Common Questions:

Do I have to currently have an FHA loan to refinance under FHA guidelines?

No. You don’t have to have an FHA loan already in place to refinance under the FHA loan guidelines. Chapter 13 refinance mortgage loans require the borrower to have been paying on the bankruptcy for at least one year, your payment history must be satisfactory. Apply Today!

Chapter 13 initial criteria:

12 Month payment history to your trustee no late payments

Satisfactory on time payment history with your creditors since filing for bankruptcy protection

Chapter 13 additional Information:

Low fixed rate of Interest

No Prepayment Penalty

0-3% down payment on Purchase Home Loans

Low or No Closing cost options

If you would like to find out more information or to see if you would qualify for a FHA loan program. Please take the time to fill out the application below to get the process started. Filling out an application in no way obligates you and is completely free to apply, fast and secure. Apply Today!