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First time buyer question FHA

Buying a home with my girlfriend. She meets all of the requirements for a FHA loan. The thing is that I just filed bankruptcy so I won't be on the loan. Is there still a way to use my income though? by cfhsoft606 from Lecompte, Louisiana. 9 days ago Reply

Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,198 contributions

Short answer is 'No'. In order for your income to be considered, you must be on the loan. Once a Chapter 7 is filed, there is a two-year penalty period that must pass from the date the BK is discharged by the court. If it's a Chapter 13, then at least twelve months must pass with an on-time payment history on the plan AND permission from the Trustee. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in AZ, CA, GA, IL, OR & WA... In fact, NEXA is licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ 480-889-9000.

9 days ago
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