Easy Applications.
Quick Closings.
Our rates are low, our application is quick and easy! We can get you clear to close in as little as 10 days!
As mortgage brokers, we have had the pleasure of working with hundreds of families to help them with their home purchase or refinance needs. Knowing that our clients are making a significant investment, we strive to make the loan process as smooth and stress-free as possible for them.
Throughout our careers, we have made it our mission to provide exceptional customer service to all of our clients. We are committed to working closely with them to understand their unique financial goals and needs, and to provide personalized service that is tailored to their specific situation.
Financing a Home After Bankruptcy: A Strategic Approach
Securing a mortgage after bankruptcy can be manageable with the right approach. By understanding your options and improving your loan application, you can achieve competitive rates and favourable terms.
Lenders for Post-Bankruptcy Financing
- Subprime Lenders: Immediately following your bankruptcy discharge, subprime lenders can provide financing, though rates may be significantly higher—often around 12% above conventional rates—unless you have substantial cash assets.
- Conventional Lenders: After two years, you may qualify for conventional mortgage rates. Although the bankruptcy will remain on your credit report for several years, lenders will focus more on your current payment history and debt-to-income ratio.
Improving Your Loan Application
1. Down Payments: Offering a down payment of 20% to 50% can make you eligible for lower rates.
2. Cash Reserves: Having reserves for at least two months will strengthen your application.
3. Adjustable Rate Mortgages (ARMs): Opting for an ARM can provide temporarily lower rates and higher borrowing potential.
4. Loan Term: Choosing a shorter loan term can also lower your rates.
5. Buying Down Your Rate: You might also consider purchasing points to reduce your rate, though increasing your down payment and refinancing later might be more beneficial.
Research and Compare Lenders
- Loan Estimates: Compare loan estimates from different lenders to ensure you’re getting the best deal. Use consistent numbers and terms for accurate comparisons.
- Application Process: Once you’ve selected a lender, completing the loan application online takes just minutes. Your loan contract will be available for review within days, followed by the disbursement of funds.
By carefully selecting lenders, improving your financial standing, and thoroughly researching your options, you can successfully finance a home even after a bankruptcy.
Buying your first home can be both exciting and nerve-wracking at the same time. With so many things to consider and....
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.Hunter Lending Team
. - NMLS# 1660690 | 3100 W Ray Road #201 Office #209 Chandler, AZ 85226
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Notice To Texas Loan Applicants: Consumers wishing to file a complaint against a mortgage banker, or a licensed mortgage banker residential mortgage loan originator, should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov
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A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov