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...helping to make your mortgage and home loan buying experience a better one.
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Can a mortgage loan be obtained after bankruptcy?
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In a word, "yes", even after bankruptcy it's possible to obtain a
mortgage loan. In fact, after a bankruptcy has been discharged, it may be surprising just how soon it's possible to obtain a mortgage loan... some lenders have programs which will enable a borrower to get a mortgage just one day after discharge. The "ins-and-outs" of how this can be achieved varies greatly from lender to mortgage lender... ranging from lenders who make it quite easy to those lenders who nearly don't do it at all. It can be a complicated issue which can usually only be viewed on a case-by-case basis. But the point is, borrowers or buyers who have had the misfortune or need to use the bankruptcy laws for relief need not despair regarding their ability to buy their own home. |
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The Mortgage Match "Buy Your Home" Express Plan.
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1. Get Preapproved.
2. Receive your Preapproval letter.
3. Find a home to buy.
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4. Fax us your purchase agreement.
5. Sign your closing docs.
6. Take title to your new property.
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Click here for a fast and free preapproval.
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These alternative mortgage programs have very specific
underwriting criteria. Your loan will either be approved or rejected, because your loan application did or did not fit the lender's bankruptcy program requirements. |
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To see if you qualify, and how fast you can become a
homeowner, click here. |
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For example, one loan program may require a down payment,
credit scores of 580 or more, and no late payments on your rental history for the last 12 months. Another loan program may have similar requirements but will allow a credit score as low as 560 if you have a larger down payment. Each bankruptcy loan program has its own criteria. For your loan application to be approved, it must satisfy that criteria. |
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There are zero down programs available, but you will have
needed to somehow preserve a fairly decent credit score to obtain a zero down loan after bankruptcy, or you will need to have had your bankruptcy discharged up to a year before applying. Otherwise, it helps to have some cash to work with... this helps overcome lower FICO scores. |
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With this in mind, the best way to determine if you can
obtain a mortgage after bankruptcy is to go through the preapproval process. It's simple and fast, has no cost and no obligation. Afterwards, you'll know exactly what you've got in terms of rates, payments and terms. |
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In all
50 states.
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Loans in all 50 states.
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If the answer you're looking for isn't here,
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