Bankruptcy

Bankruptcy is a scary word to many people. Common types of bankruptcy include Chapter 7, Chapter 13, and Chapter 11. When it comes to getting a home loan a bankruptcy is not as bad as some may think. Texas Edge Mortgage would like to take away the anguish that a bankruptcy may have caused you and your family by educating you on some of your loan possibilities prior to, during and after bankruptcy. Please read the bullet points below as they pertain to home mortgages with our company and use the links on this page for more detailed information about bankruptcy.

A Texas Edge loan consultant can also help you with your questions about home purchase loans, refinance loans, or getting a home equity loan if you currently have or have had a personal bankruptcy. Please call us today or send your email questions to info@lendtx.com.

Chapter 7:

  • 96.5% financing is possible as little as two years after a Chapter 7 discharge or dismissal with a credit score above 620.
  • VA loans are possible as little as two years after a Chapter 7 discharge or dismissal with credit scores above 620
  • FHA loans are possible as little as two years after a Chapter 7 discharge or dismissal with credit scores above 620.
  • FHA refinances are possible as little as two years after a Chapter 7 bankruptcy discharge or dismissal.

Chapter 13:

  • VA loans are possible if you have been in a Chapter 13 and paying it on time for at least 12 months with credit scores above 620.
  • FHA loans are possible if you have been in a Chapter 13 and paying it on time for at least 12 months with credit scores above 620.
  • Restrictions apply to all of the above but a Texas Edge representative can help better guide you through the loan process.
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