Profile picture for rt532

my chapter 13 was discharged july 2013 how long do I have to wait to buy a home I am va eligible.

  • November 03 2013 - Buckeye
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Answers (7)

VA does not currently have this program.
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yes it does; its called standard VA guidelines.  (Same for FHA, nothing special about it)
  • November 04 2013
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Profile picture for Dave Kosmecki
FHA has a special program that if eligible could allow you in 1 year instead of waiting 2 years. VA does not currently have this program.

This special program has to be because of a hardship out of your control like a loss of a job. Good luck.
  • November 04 2013
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We can get you in the home of your choice immediately with our lease with the right to purchase program. Your house will be in the top fifty percent of schools. This will allow you the opportunity to already be in your chosen home while you work on assuming a mortgage within a three year timeframe.
  • November 03 2013
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Yes you are eligible and obviously you don't need court permission if you are already discharged. Many lenders will include stricter policies in their guidelines so while you search for a lender to pre approve you make sure to explain your circumstance and ask for their policy. There is also a good chance your approval will require a "manual" underwrite which can result in stricter limits on your qualifying debt to income ratio.
  • November 03 2013
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In regards to financing via FHA or VA, a recent Ch. 13 BK does not disqualify you.  With permission from the BK Court, you can finance a home thru FHA or VA. 1 year of the payout must elapse and the payment performance must have no lates and be satisfactory.
  • November 03 2013
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The discharged chapter 13 in July 2013 will not disqualify you for a VA loan.
  • November 03 2013
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Have you spoken directly with a lender?
  • November 03 2013
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