conventional mortgage

Discussion in 'Credit Talk' started by Shelby, Apr 12, 2001.

  1. Shelby

    Shelby Well-Known Member

    Can I qualify for a conventional mortgage with defaulted student loans in the process of rehabilitation...meaning I am making payments towards rehabilitation but it will not be completely rehabilitated until June 2002 after which it will be completely removed from my credit. But i want to be able to buy a house before then. I asked this question before about mortgages in general and was told that you could get a FHA or VA but what about conventional? FHA has a limit of $223,000 and I'm not sure we can find anything in our area for that price so am looking towards a conventional mortgage.
  2. CF

    CF Active Member

    You may be able to. That will be at the underwriters discretion. If you have compensating factors and a written payment arrangement you could possibly overcome that.


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