FHA Home Loan Requirements After Bankruptcy is a post from: FHA,VA and Conventional Home Loans in all 50 States
A fact many home buyers are not aware of is that you can apply for a FHA home loan in California only two years after a Chapter 7 bankruptcy discharge. So as soon as you hit that two year point after the discharge, if you are interested in buying a home in California it’s worth taking a look to see if you can qualify.
FHA loan requirements also require you to not have any late payments or derogatory items after the bankruptcy. You will also want to have re-established credit after the bankruptcy and have some open lines of credit that you have on time payments with.
Some borrowers included mortgages in Chapter 7 bankruptcies. In this case, you will have to wait three years after the deed transfers out of your name before applying for a FHA home loan in California.
So I help this gives you hope that you can apply for a FHA home loan only two short years after a bankruptcy and own a home in California. If you have any questions feel free to call me at 858-922-7899 or homeloan8@gmail.com
Below are some of the latest highlights of FHA home loans in California:
- FHA loan limits in California go up to $729,750 in many areas such as Los Angeles, Orange County, Santa Ana, Anaheim, San Francisco, San Jose and the Bay Area. San Diego FHA loan limits are $697,500. Riverside and San Bernardino FHA loan limits are $500,000. Sacramento FHA loan limits is $580,000. Fresno FHA loan limits are $381,250.
- FHA down payment is only 3.5% and this can be a gift from a relative
- FHA loan rates are once again at ALL TIME RECORD LOWS!
- FHA loan credit score does not have to be perfect
Regards,
Warm Regards,
Rob Chomentowski
Sr. Loan Officer
858-922-7899
homeloan8@gmail.com
Related posts:
- FHA Home Loan Requirements After Bankruptcy in California
- If Mortgage Included In Bankruptcy 7 Three Years Until Qualify FHA Home Loan In California
- FHA Loan Requirements After Bankruptcy in California
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