Bankruptcy Will NOT Keep You From Getting a VA Mortgage
August 22nd, 2009 Categories: Real Estate News
Bankruptcy will NOT keep you from getting a VA mortgage if you meet the following criteria:
Under VA requirements, if you had a Chapter 7 bankruptcy that was
- discharged more than two (2) years prior to the loan application
- or if you had a Chapter 13 bankruptcy and have satisfactorily made at least 12 months worth of payments
- and the Trustee or the bankruptcy judge approves of the new credit, then you may qualify for a VA mortgage with no money down.
You may obtain 100% financing up to 4 times your maximum eligibility – this means that if your eligibility is $104,250, then the maximum VA loan amount with no down payment is $417,000.
You must also meet standard credit requirements and debt-to-income ratios based on your income and other debt obligations.
Want to know more about qualifying for a VA mortgage in the Northern Virginia area? Give me a call at 703.927.4554.
Michael
; ?>/images/MatoChiclet.gif)
[...] Bankruptcy Will NOT Keep You From Getting a VA Mortgage [...]
[...] here: Bankruptcy Will NOT Keep You From Getting the VA MortgageRelated PostsMarkus Klinko and Indrani File for Bankruptcy | The ClickFiling for Chapter 7 [...]
[...] some-more than dual (2) years before to the loan focus or if we had … Continued here: Bankruptcy Will NOT Keep You From Getting the VA MortgageRelated PostsMarkus Klinko and Indrani File for Bankruptcy | The ClickFiling for Chapter 7 [...]
these are tough times for the international economy. I`ve been thinking of getting a mortgage for a while, but i`m afraid i won’t be able to pay for it. All I can do is hope that the things will get better in time. But your offer sounds very very tempting. Maybe in the future, i will give it a try. Thank you.