Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy by: Carrie Reeder
If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis on the other two factors needed to get a mortgage loan, which are; income verification and a down payment.
After bankruptcy most lenders want you to wait at least 2 years from the time of the bankruptcy discharge before they will consider you for a mortgage loan. After the two year waiting period is over, you should be able to get financing easily. You should also be able to get 100% financing as well. You can usually achieve this as long as at least most of your payments have been reported to the credit bureau as having been paid on time since the discharge of your bankruptcy.
If you are looking to get a mortgage loan after bankruptcy sooner than the 2 years from the time of discharge, you will need to have almost flawless payment history since your bankruptcy discharge. Also, you may need to have a down payment. If you have even 3-5% to use as a down payment, that may be enough to help you get approved.
(continued...)
Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
Page 2
Additional Government Grants Resources
Rural Community Development InitiativeThe Rural Community Development Initiative can be awarded to legally qualified private, public, and tribal groups or organizations that have the experience and capability of providing training and technical assistance to nonprofit community-based housing and community development organizations, as well as low income rural communities.
First Time Homebuyer Programs in District of ColumbiaThe Department of Housing and Community Development, more commonly referred to as DHCD, is a local government agency in the District of Columbia that is primarily responsible for increasing quality housing and community development opportunities.
2012 Scallop Research Set-Aside ProgramThe Department of Commerce, in cooperation with the National Marine Fisheries Service (NMFS) and the National Oceanic and Atmospheric Administration (NOAA), has recently established a project entitled 2012 Scallop Research Set-Aside Program.
Pilot Studies of Innovative Treatments in Mental Disorders ProjectThe National Institutes of Health has recently collaborated with the National Institutes of Mental Health (NIMH) to establish the Pilot Studies of Innovative Treatments in Mental Disorders Program.
Business Loans From GovLoansThe government has launched innumerable programs that are all geared towards the achievement of this goal. Some of these programs involve the provision of technical assistance, training sessions, and strategies that would potentially help business owners in marketing their products and in expanding their businesses.
Urban Rehabilitation Homeownership Program for Homebuyers in ConnecticutIn accordance with this mission, the Connecticut Housing Finance Authority has established the Urban Rehabilitation Homeownership Program wherein it intends to home purchase loans at steady, below-market rates together with home improvement loans with no interest, all in an attempt to support homeownership and investment in selected Connecticut neighborhoods.
Federal and State Technology Partnership ProgramThe Federal and State Technology Partnership Program works around the objective of being able to boost and strengthen the technological competitiveness of small business establishments in the United States of America.