FHA Loan Requirements After Bankruptcy in California is a post from: FHA,VA and Conventional Home Loans in all 50 States

If you had a Chapter 7 bankruptcy, FHA loan requirements only need you to wait two years before you can qualify for a FHA home loan in California.   If you had a Chapter 13 bankruptcy, you only have to wait one year, as long as you can get permission from the court to enter into a home mortgage.  This is great news for Californians as many citizens have had to go though bankruptcy in the economic downturn of the last few years.

To get a FHA loan after bankruptcy in California, you want to make sure:

1. You do NOT have ANY late payments or derogatory credit of any kind of after your bankruptcy
2. You have re-established you credit with some open and active lines of credit that you have a on time payment history with

You will be surprised that after two years your credit score can rebound quite nicely after a bankruptcy.  If you have little or no lines of credit, I highly recommend going into bank where you have your checking and savings accounts and opening up a secured credit card.  Start charging small items on this card and pay them off monthly and this will help you re-build your credit showing on time payments to the three credit bureaus.

If you have any questions or would like to be approved for a FHA loan in California, don’t hesitate to call at 858-922-7899 or email me at homeloan8@gmail.com

Some recent highlights of FHA home loans in California:

• FHA loan requirements allow you to have a non-occupant co-borrower
• FHA loan interest rates are at ALL TIME RECORD LOWS!
• FHA loan down payment is only 3.5% and that can be a gift from a relative

Related posts:

1. FHA Loan Requirements After Bankruptcy in California
2. FHA Home Loan Requirements After Bankruptcy in California
3. If Mortgage Included In Bankruptcy 7 Three Years Until Qualify FHA Home Loan In California

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