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Getting a Mortgage Loan After a Bankruptcy in Texas
Getting a Mortgage Loan After a Bankruptcy in Texas Getting a mortgage loan after a bankruptcy can be very difficult for many home buyers especially since many lenders have tighter mortgage underwriting guidelines.  For those that have filed for bankruptcy, it is important to understand what lenders are looking for in order to qualify for a mortgage loan.
 
How much time needs to pass after the banruptcy to qualify for a mortgage loan?
There are two main mortgage loan programs available to most home buyers.  The most common loan program is a FHA mortgage and the other mortgage program is a conventional mortgage.  Both conventional and FHA mortgages have different underwriting guidelines when it comes to bankputcies.  Getting a mortgage loan after a bankruptcy in Texas will be determined by the loan program the home buyer is trying to qualify for. 
Conventional mortgage loans require a 4 year waiting period after the bankruptcy has been discharged before the mortgage can be approved.
FHA mortgage loans require just a 2 year waiting period after the discharge date of the bankruptcy.  Click here to view information about FHA bankruptcy guidelines in Texas.
 
Important Steps a Home Buyer Must Do After a ... more

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