My Ch 7 BK was discharged on 2/19. My FICO score is a crappy 600. Does anyone know how long it takes before you can buy a house? Is it based on the credit score or length of time after BK discharge? Thanks in advance!
That is wrong information about FHA. My husband and I are 5 months discharged from a Chapter 13 bankruptcy and we are working with a lender for FHA refinancing. It is 2 years from discharge for a conventional loan. You do need a minimum score of 620 though.
Right. With chapter 13 you can apply the day after discharge. With chapter 7 you have to wait 2 years.
With either, if there was a foreclosure, deed-in-lieu, or short sale, you have to wait 3 years from when the property transfers.