Topic: Non-QM Loans After Bankruptcy With No Waiting Period
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Gus,
This is a great question. We have programs with no waiting period after discharge from both a Chapter 13 or Chapter 7 bankruptcy. Scores can be as low as 550 at one of our lenders, which is amazing. It gives so many families the ability to rebuild after a housing or credit event.
Lenders will require at least one tradeline open for 24 months, or three tradelines open for 12 months. Down payment will vary based on score and debt to income ratios. We even have options that do not require a debt to income ratio or income documentation,
The options post bankruptcy are abundant if you have the right advocates.