I filed for Chapter 13 in Oct. 2014. I have roughly two years of on-time payments, and I've continued to make payments on my car loan and student loans since applying. I'm getting married in the next year and thinking about applying for a mortgage with my spouse. I would tell my fiance to apply and leave me off the application, but my income is roughly double, so it makes since to count me so we can qualify for a larger mortgage. My BK won't be discharged until Oct. 2019.
Before BK I had pretty awesome credit and I had like a 98% on-time payment history. (I won't bore yo with the sob story, but I just couldn't afford my credit card payments after losing a job and relocating for a lower-paying job.) Credit score is now like 662 TU and 591 for Equifax. Spouse has good credit with a FICO in the high 600s, but it should go up when we pay down one sort of large credit card balance.
Anyone have experience with this? I want to apply for an FHA loan since I haven't ever owned a home before. Can I just apply through a big company, or should I contact a smaller local mortgage broker who specializes in this sort of thing?
you will need permission from the trustee of your BK estate in order to obtain a mortgage. I would start by speaking with your attorney to find out how he/she thinks your trustee will respond to a request.
Without permission, there is no way to obtain a mortgage while in an active 13, so that should be your first step.