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Will I have to pay a higher interest rate (than avg) for a mortgage 2 yrs after Chapter 7 discharge?

Our Chapter 7 discharge 2 year anniversary will be July of next year; will banks require a higher down payment and/or larger interest rate on a home mortgage loan?
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September 06 2011 - Indianapolis
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Yes, with a less-than-perfect credit score you will be offer higher interest rates on a home mortgage.  You might want to look for a credible "credit-angel" to help clean up that credit.

Jeff
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September 06 2011
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"Normal rates and qualification process" means they still look at you loan to value ratio, your debt to income ratio, and your middle FICO score.

It takes time to repair your FICO score after a bankruptcy, even if one is diligent and proactive about it.
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September 06 2011
Normal rates and qualification process. But, the wait time is a minimum of 3 years.

Happy funding, Rudi
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September 06 2011
 
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