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I filed chapter 13 September 2011. I sold my home in a TRADITIONAL sale October 2014 because I needed to relocate. Bank was paid in full. No short sale no pre foreclosure.
I purchased a new home February 2015 while still in my chapter 13 using Fha loan. At that time loan officer said my combined credit score was 702.
My BK was paid in full and discharged may 2015.
Now I would like to downsize to a smaller house but only want to use conventional loan. Do I still need to wait the two years from discharge since I purchase home WHILE IN BK? I am only interested in a conventional loan. Credit should be even better than 702, no change in job, zero debt other than current mortgage. I don't want to pay PMI and have 20% down for new place.
I filed chapter 13 September 2011. I sold my home in a TRADITIONAL sale October 2014 because I needed to relocate. Bank was paid in full. No short sale no pre foreclosure.
I purchased a new home February 2015 while still in my chapter 13 using Fha loan. At that time loan officer said my combined credit score was 702.
My BK was paid in full and discharged may 2015.
Now I would like to downsize to a smaller house but only want to use conventional loan. Do I still need to wait the two years from discharge since I purchase home WHILE IN BK? I am only interested in a conventional loan. Credit should be even better than 702, no change in job, zero debt other than current mortgage. I don't want to pay PMI and have 20% down for new place.
Please advise.
This is a question for your lender. You should be able to shop around for interest rates though, so look for the best rates.
I filed chapter 13 September 2011. I sold my home in a TRADITIONAL sale October 2014 because I needed to relocate. Bank was paid in full. No short sale no pre foreclosure.
I purchased a new home February 2015 while still in my chapter 13 using Fha loan. At that time loan officer said my combined credit score was 702.
My BK was paid in full and discharged may 2015.
Now I would like to downsize to a smaller house but only want to use conventional loan. Do I still need to wait the two years from discharge since I purchase home WHILE IN BK? I am only interested in a conventional loan. Credit should be even better than 702, no change in job, zero debt other than current mortgage. I don't want to pay PMI and have 20% down for new place.
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