Conventional loan after chapter 7 with large down

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greg1234

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Post Posted: Mon Dec 07, 2009 11:44 pm    Post subject: Conventional loan after chapter 7 with large down
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Can anyone tell me if the 4 year rule for waiting to get a conventional loan after Ch 7 a set in stone issue, or just a recommendation for getting a favorable rate? What is someone has a large down payment (15-20%), can they apply for conventional loan prior to the four year mark?
Thanks
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sara
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Post Posted: Tue Dec 08, 2009 2:05 am    Post subject:
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Hi greg,

Though you've a large down payment, yet you'll have to wait for 4 years to get a conventional mortgage after chapter 7 bankruptcy. However, you can get an FHA loan after 2 years of the discharge of bankruptcy.

Take care.
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