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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. TexasLending.com 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 TexasLending.com and use the links on this page for more detailed information about bankruptcy.

A TexasLending.com loan consultant can also help you with your questions about home purchase loansrefinance 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@texaslending.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 TexasLending.com representative can guide you through the loan process.
 

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Current Rates

Type Rate APR
Conv. 30 Year Fixed 3.750% 3.970*%
Conv. 15 Year Fixed 3.000% 3.350*%
Conv. 5 Year ARM 3.625% 3.625*%

As of Wednesday, October 15, 2014

More rates - Click here
*All rates above quoted with 1% origination
*20% Equity with loan amounts of $165,000+
*Subject to credit & income requirements
Click here for rate conditions

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