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Credit ratings and FICO scores always reflect filing bankruptcy for
up to 10 years following discharge. Nevertheless, because of the value
of collateral, lenders nationwide remain eager to accept applications an
approve home loans despite records of recent bankruptcy filings. In most
cases, interest rates will be higher, or alternatively, down payments or
owned equity must be greater as compared to most other mortgage
applicants.
The interest rate charged on home loans after bankruptcy is a
function of not only prior discharge, but of many other factors
reflected with in credit reports. Almost no lenders extend loans while a
case is pending. Many lenders offer credit a few months after discharge.
Most mortgage companies offer home loans after two years, so long as
recent credit is acceptable.
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