Any chance of refi after Ch. 13 discharge?

[NeedOptions]

Our 5 year Ch. 13 will be discharged in a few months. We paid everything on time for 5 years. Both cars are now paid off and I have no debt other than my $330k mortgage at 5.94%. I really want to refi to a 15 year mortgage asap and would love it if I can get it done as soon as my discharge is completed. My wife and I make $190k/year combined and have no debt other than the mortgage. Any idea if a mortgage lender will let us refi quickly after discharge? Thanks!

[babsthebear]

You should not have a problem refinancing with an FHA loan beginning the day after discharge. Assuming re-established good credit, enough equity in the home, and good DTI ratios. It would need to be an FHA loan because Conventional does require a longer waiting period after Chapter 13 discharge. Even though FHA has a monthly MIP, it is significantly less for a 15 year fixed. The monthly MIP would be in place for 11 years and then drop off, or you could refinance again later, once you've met the Conventional waiting period of 2 years after discharge.

[whathehell]

wao your situation is almost identical to mine even almost the income lol... anyways I was discharged on 4.1.16, as soon as I got the letter I pulled my credit reports and started putting it in order fico is in the 660 range so I applied for a quicken loans and was approved on a 15 year @3.75%, that is 3% less than my current mortgage, saving about $200 bucks a month and I took 6 years off the loan, now I will pay bi-weekly and be done in 12.5, just got a confirmation that we are in the last step and we should have a closing in the next few weeks, can't freaking wait. So yes it can be done assuming you have the equity.