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Conventional Loan After Chapter 13? No Problem!
#1
If you have ran through some tough times in your life and had to go through with a Chapter 13 Bankruptcy and you wish to obtain a Conventional Loan again, there are definite options for you.  As long as you can achieve the minimum guidelines set forth by Fannie Mae and Freddie Mac, you can get into a new mortgage.  The basic qualifications for a mortgage after a Chapter 13 Bankruptcy are as follows:
  • Mandatory Waiting Period of at least 2 years after the discharge date of your Chapter 13.  The discharge happens after your repayment term as come to an end.
  • Minimum FICO credit score of 620.
  • Maximum debt-to-income ratio of 45%
If you would like to finish this article written by Bob Vogel, you can find it here: http://www.loanconsultants.org/2017-conv...uptcy.html  Bob Vogel is the Editor in Chief for Loan Consultants, http://www.loanconsultants.org, Editor in Chief for Credit Fix Advisors http://www.creditfixadvisors.com,  a senior writer for Gustan Cho Associates, and also Chief Moderator for Lending Network USA, http://www.lendingnetwork.org.
 
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