My Chapter 13 has been discharged for six months and I have a 704 credit score (avg.) with a debt to income ratio of 28%. As such, can I qualify for a Mortgage to buy a home in Kansas City?

Question: My Chapter 13 has been discharged for six months and I have a 704 credit score (avg.) with a debt to income ratio of 28%. As such, can I qualify for a Mortgage to buy a home in Kansas City? If so, where should I look for a mortgage? Thanks.
Charlene, Kansas City


Answer: Unfortunately, Charlene, I'm going to be the bearer of bad news. In the past, a home buyer could apply for a mortgage 6 months out of bankruptcy. Today, a home buyer needs to wait 2 years out of bankruptcy to start the application process to purchase a home.


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