No Maximum Borrower Income Restriction, No First-Time Homebuyer Requirements, Can Own Multiple Properties.
With Millennial Home Loans quick online loan application, determining if you qualify for an Conventional Low Down Payment Loan and for how much, has never been easier.Get Started!
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|Conventional Loan Type||BK – Chapter 7||BK – Chapter 13 Discharged||BK – Chapter 13 Dismissal||Foreclosure*||Short Sale, Deed-In-Lieu, Pre-Foreclosure||Modified Mortgage|
|Standard||4 years||2 years||4 years||7 years||4 years||2 years|
|With Extenuating Circumstance||2 years||2 years||4 years||3 years (requires 10% down)||2 years||No waiting period|
* If a property was included AND surrendered (i.e. property wasn’t retained and the debt wasn’t reaffirmed) in a Chapter 7 Bankruptcy, the borrower may potentially be able to defer to the Chapter 7 waiting period Vs. the Foreclosure waiting period.