Getting a Mortgage
A lot of mortgage lenders don't prefer to give out loans to peop
A lot of mortgage lenders don't prefer to give out loans to people who have enrolled into a DMP. This is a fact.
DMPs are a moderate-high risk for a mortgage lender. If you enro
DMPs are a moderate-high risk for a mortgage lender. If you enroll in one it shows just that - you cannot 'manage' your debts. Now, I say moderate to high as it is certainly less risky than a BK, but more risky than a debt consolidation loan on your credit report.
This is probably going to be decided by an underwriter who looks at the big picture. If you can demonstrate that you are paying everything for two years (and maybe a reason for why you had to enter the DMP) along with your income you may be able to get the mortgage. Don't expect a nice low rate though. As I said someone who is in a DMP is a moderate-high risk for any lender. To clarify you are still in it, right? If so how is it not bringing your credit below 640? Are you paying above the min through the plan?