TEXAS MORTGAGE LENDERS – 1 DAY AFTER FORECLOSURE – SHORT SALE – BANKRUPTCY- FORECLOSURE
TEXAS MORTGAGE LENDERS PAGES FOR BUYING AFTER FORECLOSURE OR BANKRUPTCY!
- Purchase 1 day after bankruptcy, foreclosure, short sale and deed in lieu of TEXAS foreclosure up to 3 million. These are not subprime loans, but they do often have higher interest rates, and higher closing costs.
- TEXAS Portfolio mortgage lender offer private TEXAS mortgage loan approvals are looking at other compensating factors to approve these loans. Examples include 12 months timely rental history, high credit scores, lower loan to value (larger down payments), and reserves (future TEXAS mortgage payments in the account at closing).
TEXAS Portfolio Mortgage Lenders Require A minimum 550 credit score.
- Chapter 13 Bankruptcy-You may apply for a bad credit Texas FHA mortgage after your bankruptcy has been discharged for 12 Months or (1) year with a Chapter 13 Bankruptcy. You must have 0 x 30 day late payments, and permission from the chapter 13 trustee.
- Chapter 7 Bankruptcy- You may apply for a bad credit Texas FHA mortgage after your bankruptcy has been discharged for TWO (2) years with a Chapter 7 Bankruptcy. You may apply for an FHA insured loan after your bankruptcy has been discharged for ONE (1) year with a Chapter 13 Bankruptcy
- Foreclosure – You may apply for a bad credit Texas FHA mortgage insured loan THREE (3) years after the TEXAS Foreclosure sale/deed transfer date. You may have to search county records office to locate the deed in order to count a full 3 years.
- Short Sale / Deed in Lieu– You may apply for a bad credit Texas FHA mortgage insured loan THREE (3) years after the sale date of your foreclosure. FHA treats a short sale the same as a Foreclosure for now.You may have to search county records office to locate the deed in order to count a full 3 years.
- Credit must be re-established no late payments in past 12-24 months, depending on bad credit cituation. hardship
- Application Date must be after the above waiting period to be eligible for FHA financing after hardship.You may have to search county records office to locate the deed transfer out of your name fin order to count a full 3 years.
- Chapter 13 Bankruptcy – Once you have finished making all payments satisfactorily, the TEXAS mortgage lender may conclude that you have reestablished satisfactory credit.
- If you have made at least 12 months of timely payments and the Trustee or the TEXAS Bankruptcy Judge approves of the new home purchase, the TEXAS mortgage lender will approve financing after a chapter 13 bankruptcy.
- Chapter 7 Bankruptcy – You may apply for a VA mortgage loan TWO (2) years after a TEXAS chapter 7 Bankruptcy.
- Foreclosure / Deed in Lieu – You may apply for a VA mortgage loan TWO (2) years after a TEXAS foreclosure.
- Short Sale – VA does not recognize a short sale as a derogatory event however most TEXAS mortgage lenders do. Most lenders will require a full 2 years after the deed was transferred out of your name and you re establish credit.
- Credit must be re-established with a minimum550 credit score
- Application Datemust be after the above waiting period to be eligible for VA mortgage after hardship.
TEXAS VA Mortgage Lenders Require A minimum 550 credit score.
USDA- TEXAS USDA MORTGAGE LENDERS
- Foreclosure – You may apply for a USDA rural loan THREE (3) years after a TEXAS Foreclosure.
- Bankruptcy – You may apply for a USDA rural loan THREE (3) years after the discharge of a Chapter 7 or 13 TEXAS Bankruptcy.
- Short Sale / Deed in Lieu of Foreclosure – TEXAS mortgage lenders require 3 years after a TEXAS foreclosure.
TEXAS USDA Lenders Require A minimum 550 credit score.
CONVENTIONAL– TEXAS MORTGAGE APPROVALS!
- Foreclosure – You may apply for a TEXAS Conventional mortgage, Fannie Mae loan (7) SEVEN years after the sale date of your TEXAS foreclosure.
- Bankruptcy– You may apply for a Conventional, Fannie Mae loan after your Chapter 7 bankruptcy has been discharged for FOUR (4) years, TWO (2) years from the discharge of a Chapter 13
- Short Sale / Deed in Lieu of Foreclosure–Waiting period for TEXAS foreclosure that was included in Bankruptcy If mortgage is included in Bankruptcy, waiting period defaults to FOUR (4) from the discharge date. TEXAS Short Sale or Deed in Lieu of TEXAS Foreclosure not included in a Bankruptcy has a new Waiting Period of FOUR (4) years from date your name is removed from title. This replaces the ability to buy in 24 months with 20% down payment and minimum 680 credit score.
TEXAS Conventional Lenders Require A minimum 620 credit score.
TEXAS BAD CREDIT MORTGAGE LENDERS PROGRAMS INCLUDE:
- FHA Bad Credit Mortgage Lenders
- VA Bad Credit TEXAS Mortgage Lenders
- USDA Bad Credit TEXAS Mortgage Lenders
- Jumbo Bad Credit TEXAS Mortgage Lenders
- Hard Money Bad Credit Hard Money Lenders
- Condominium TEXAS Bad Credit Mortgage Lenders
- Town House TEXAS Bad Credit Mortgage Lenders
- Manufactured Home TEXAS Bad Credit Mortgage Lenders
- Non Warrant-able Condo TEXAS Bad Credit Mortgage Lenders
Many Bad Credit Texas mortgage applicants don’t realize these Government guaranteed low interest rate FHA, VA mortgage loans can help Texas home buyers with bad credit. Even If you have a bad creditpast and you’re looking for a low Texas mortgage interest rate GA mortgage a government or private lender may be a …
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Getting a Florida Mortgage with bad credit isn’t as easy as it was a year or two ago. However, it isn’t as impossible as some news reports make it seem. Even Floridians with bad credit reports which reveal past financial sins still sometimes get to the promised land of mortgage approval. Most Home Buyers and Refinance …
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