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We qualified for a conventional (30 year fixed rate), conforming (meaning the loan amount was under $275,000 and met Fannie Mae FNMA guidelines) loan at 7% with no points.

Not everyone can qualify for loans on these terms after 2 years - we got great advice on how to reestablish our credit starting with secured credit cards. Our credit was perfect since the BK and we had several secured and unsecured trade lines. We were also buying down so our debt to income ratio was low.

There is a great website that has a section devoted to imperfect credit and a state by state list of lenders. Most of these lenders make A paper loans as well as loans to people with dings in their credit.

If you are diligent and careful - you can buy a house!
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