Texas recent credit event loans can let borrowers possibly get approved as soon as one day after a bankruptcy or foreclosure or short sale without waiting.
Built for borrowers who've overcome financial hardship and are ready for a fresh start.
People who encounter trouble and got into a Chapter 7 or even a Chapter 13 bankruptcy but discharged and is ready or wants to buy a home. Estimate ratios first with our DTI calculator.
Borrowers who went through a foreclosure and want to try a chance at buying again without waiting three to seven years, which is normally required for conventional standards.
Borrowers who in the past completed a short sale or went through hard times or are ready to enter the housing market — check purchase power with our affordability calculator.
Families who previously maybe had a loan modification done to their home mortgage but want to either purchase or refinance.
Borrowers and families who had major credit events that were caused by medical bills, collections, divorce, job loss, or any other hardship that could be documented — high-asset borrowers may also qualify on assets via an asset-depletion loan.
Families who are really trying to rebuild their credit after an event that occurred and now have a score above 620 with on-time payment history. See our mortgage process for what closing looks like.
Let's face it, Kama, life happens. Emergencies that require medical attention, or divorce, or even a job loss, don't always reflect who we are as people. Recent credit event programs in Texas evaluate the financial health of your situation now and not your past.
Non-qualified mortgage programs in Texas allow us to approve someone as soon as a day after a bankruptcy discharge or foreclosure or short sale. Certain programs don't require seasoning. Self-employed buyers in this bucket often pair the program with a bank-statement loan.
Chapter 7 & 13 bankruptcy, foreclosure, deed-in-lieu, short sale, loan modification, and even multiple events are eligible for our programs — FHA borrowers should see our notes on collections and FHA approval.
We'll look at your credit history and pull a credit report to see how you're doing now. If you have strong payment history and have rebuilt your credit profile, this will work in your favor. Worried about a late dip? Read our guide on a credit drop during underwriting.
Texas credit event loans can be used for a primary, a second, and even an investment property — landlords often use a DSCR loan for additional rentals.
Instead of waiting three to seven years, that is normal and customary for a conventional loan, this program will allow you to qualify much sooner as long as your credit history shows that you're on track.
We'll focus on your rebuilt credit and income that is stable right now. Then the available assets will help you qualify and put the event behind you.
Bankruptcy, foreclosure, short sale, deed-in-lieu, charge-offs, and loan modifications are all eligible credit events.
From credit review to closing day.
We start with an application and a full credit report to document the history. Then we'll evaluate your current credit profile, making sure that your scores are up and your payment history is current, showing no lates in the last 12 months.
If we are good to go, you'll get a pre-approval from a local South Texas lending loan officer based off of your current profile and not your past. We'll provide a clear guidance and down payment expectation on how to qualify.
Our non-QM underwriters will look at the credit event loans and determine if we qualify. Even if we need to navigate through event documentation or letter of explanations in underwriting, we'll request what's needed.
Get clear to close and sign at a Texas title company. Then finally you'll have a fresh start.
See how much sooner you can buy with a non-QM fresh start loan.
Run the numbers on your new beginning.
Common questions about buying a home after a credit event in Texas.
No waiting periods. No judgment. Just new possibilities.
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