Usda not bk friendly in tx!

[bkintx2008]

Hi,i have been trying to find a lender that will work with me 12m post bk, but no luck so far. Everyone wants me to have a 620 or better down payment, reserves, good trade lines after i am seasoned for 24m for fha. As for usda they are even worse. I talked to a lady yesterday at the local office, she told me they won't even look at me with a bk no matter the down payment,trade lines, letters or reserves until i am 36m out. You can look up usda under writing guidelines, so i think if i can get it done it will be fha, but i might have to wait another year.

[jennordhavn]

That really sucks. I'm hoping to buy a house either next summer with USDA or in 2011 with FHA. With USDA we'd have to move a bit further out than we want, but we'd get a bigger, newer house and a very affordable payment. Plus you can't beat no down payment and no PMI! If we don't qualify, we'll have to go with FHA but we will have to save for the down payment .