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Can I be a co-borrower?

My chapter 7 was discharged a little over a year ago. My score is 610-630. Can I be a co-borrower with my wife on a mortgage through USDA in order to use my income? by searingj23438 from Chatsworth, Georgia. Jun 27th 2017 Reply


Thomas Dasta (lendfm)
#33 ranked lender in Georgia - 41 contributions

i believe it is a 2 year waiting after the discharge date.

Jun 27th 2017
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Gustan Cho (GustanCho411)
#1 ranked lender in Illinois - 6 contributions

There is no waiting period after bankruptcy, please call me at 800.900.8569.Owner of Gustan Cho Associateshttps://gustancho.com/

Jun 27th 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,483 contributions

NO. USDA has a minimum waiting period of 3-years after the foreclosure completed and transferred back to the bank.. There is a possible extenuating circumstance option for less waiting time, but virtually no one gets it. For USDA loans in MN, WI, and SD, visit me at www.JoeMetzler.com

Jun 27th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 7,874 contributions

The waiting period is 3 years if you want to go USDA.. Here's a link to USDA's credit underwriting guidelines.. you can go to page 10-12 to see for yourself. https://www.rd.usda.gov/files/3555-1chapter10.pdf. Also, if your score is below 640, then you will need to be manually underwritten.. (see page 10-11).. Lenders will run a "Tri-merge" credit report on ALL borrowers.. and the LOWEST MID score of ALL borrowers is used to determine eligibility.. So if you have a 750 mid score and your spouse has a 650 mid score, your eligibility is based on 650.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jun 27th 2017
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