Question about obtaining/eligibility for MassHousing loan

FHA guidelines allow for a purchase after 2 years post BK... however if there was a home involved with your BK, then your going to have to wait for 3 years after the home was transferred out of your name.. There are many other things the lender will need to look at, so If you want to know for sure, then the best advice I can give you would be to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Good Afternoon. Assuming you didn't have a prior Short Sale or Foreclosure or even Multiple Bankruptcies on your credit in the recent past, you should be able to consider FHA as an option once the 24 month period has elapsed. The Bankruptcy must have been due to extenuating circumstances and not financial mismanagement. We have other products open as well assuming your credit score remains at the level you noted, which would include the Fannie Mae My Community Program that offers 3% down payment, which can be all gifted! If you would like some help, please contact me directly and I'll be happy to discuss the options in more detail and provide you with a No Obligation Pre-Approval. Thank you and do enjoy the day!

FHA allows for a new loan 24 months after discharge.

You need to wait 4 years for MassHousing. Income limits and DTI are also a factor. Call me if you would like to know all your options.

If you are stalled out on the Masshousing program -- you may want to ask your local, licensed mortgage professional if they sell to Freddie Mac, as that organization recently changed their program to allow mortgage at two years after chapter 7 discharge. You would probably like the mortgage insurance program in that conventional program better than FHA's, as well.

24 months after bankruptcy for FHA and a minimum fico of 640.

The My Community Program is a Fannie Mae Program and as such, there are no Life of Loan MI Requirements. I'd be happy to work with you on this as a Local and Direct Massachusetts Lender!

FHA guidelines allow for a purchase after 2 years post BK...

FHA guides is 2 yrs after BK and 3 years if there was a home included in the BK.

I would apply at a local bank, my 1st choice would be a direct Mass lender; I work as an originator for Randolph Savings Bank. We are a direct FHA, Mass Housing, and Fannie Mae Seller-Servicing agent. We make our credit decisions locally and employ Mass residents as our processors and underwriters. That means if you qualify for a conforming loan you get a bill from us. We also offer portfolio loans so if you don't fit in these other various programs you may still qualify, if the circumstances are right. However the only certainty about your scenario is until you get an approval/pre-approval from a lender in writing, any answer is speculation. Apply somewhere today, this link will bring you directly to my web app, or you can fill out a consultation form and I would be happy to take an application over the phone, or meet you in person. Web is the fastest way to get a response; please click on the link below; https://7225208772.secure-loancenter.com/WebApp/Start.aspx?&employeeID=32477 Take care,Chris CouchonNMLS ID # 981029