Can you get a mortgage if you have experienced a bankruptcy?

The short answer is YES, you could qualify for a mortgage!!!  Please read on to learn about Yhard Mortgages recent clients who are now very proud proud first-time homeowners.

Last month Yhard Mortgages was able to secure a mortgage for clients who had only been discharged from bankruptcy a mere 11 months ago. 

Traditionally once consumers have been discharged from a bankruptcy they start thinking about re-establishing their credit, so they can finance a home in the future.

Traditional mortgage companies commonly referred to as “A” mortgage lenders look for a minimum of two active tradelines (credit cards, loans, lines of credit) and these tradelines need to be open for a minimum of two years with no late payments. 

These Yhard Mortgages clients had not begun to re-establish any credit at all & had only been discharged for 11 months.  Yhard Mortgages was able to arrange a mortgage for the clients thru a “B” lender at a slightly higher rate than a traditional “A” lender.

The clients and their 2 kids are now enjoying their spacious home in a wonderful neighborhood.

Providing the clients follow the plans laid out by Yhard Mortgages they will get back to a traditional “A” lender when their term expires in 2 years.

Do you or someone you know have slow credit now or perhaps in the past that is preventing home ownership?

Give us a call we would love to speak with you to arrange a mortgage now or get a plan in place for a home purchase in the future.

Call 902-401-8143 to learn more.