Any lender w/2yr BK go conventional?

[Anonymous]

2 yr 7 discharge. 725 score.. zero debt..steady job, high income..
Plenty of positive trade lines. ..zero negatives lines.
BK public file is only negative thing on credit.
Tons of cash reserves.
Seems like a perfect "makes sense" loan like 8-10 years ago.
Looking to purchase.
Refuse to go FHA... Having a hard time finding someone. Navy fed on the fence...working in depth with the underwriters now to see if they will do it.
Anyone know of a lender option?
Thanks

[mrsjr]

Why do you refuse to go FHA?  I do believe that's your only option at the 2 year mark.

[Anonymous]

MI upfront payment too high...as is monthly MI payment. Fha loans are for low down payment and credit problems.
I have big down payment...725 score ..and no DTI.
Just be nice to find a bank who recognizes the quality and low risk of the loan. Hoping the credit union comes through.

[Anonymous]

I hate to break it to you, but FHA is the only option to go since you are just two years post BK. 

[Anonymous]

Found a local bank to do the mortgage.  90% LTV 3.75% 5/25 on a purchase.   found another credit union that would do it as well, rate wasnt as good though.

so options are out there, you just have to find them.

once again...for anyone who reads this post:  

 dont get your hopes up that this is doable for everyone, my situation stood out as above average for the banks, thats why they considered it.  higher score, high income, no debt, tons of cash reserves

local banks and credit unions are your best bet, as actual decision makers can review each loan.

good luck to anyone else looking

[Anonymous]

No offense but regardless of the 725 score seems to me 2yrs post BK is a credit problem.I went fha and I don't have credit problems so I don't necessarily agree with your statement.Seems a bit arrogant!

[Anonymous]

Credit problems in most lenders eyes...yes.
All I'm saying is that local banks can make decisions based on situations. Aside from the score, I presented a strong case with 10% down, 24 months reserves and zero debt, so it made sense to them.
Everyone's reason and situation for BK is different. (Mine was real estate) so it might be worth some people exploring the option at your local bank, rather than FHA and it's high costs. Fha is not a bad loan, but with a larger down payment, better options are out there..even with a BK!!