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- Government programs such as FHA, Rural Develpmen,t or other similar programs require a minimum of 2 years of re-established credit to refinance or purchase. They are looking at your credit history to establish if you have made your payments on time, have you established new credit, and also they are looking to see if any derogatory credit has occurred such as collections, judgments, and/or liens.
Non-government programs
- I have lenders who will do a loan one day out of bankruptcy. There will be stricter requirements: a larger down payment may be required compared to conventional or in the case of a re-finance, they may require a larger amount of equity to be established in the home then a conventional mortgage. The rate may also be higher than conventional financing and the loan may be subject to a pre-payment penalty.
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