Home Loans Arizona - California - Nevada - Utah

After reviewing the chart above, I have the answers to your questions of "how long after bankruptcy can I buy a house? Below are FHA and VA underwriting guidelines, click here to go how to buy a house after a bankruptcy with Fannie Mae. 

A Chapter 7 bankruptcy (liquidation) does not disqualify a borrower from obtaining an FHA-VA insured mortgage if at least two years have elapsed since the date of the discharge of the bankruptcy. During this time, the borrower must have: 

• re-established good credit or chosen not to incur new credit obligations
• An elapsed period of less than two years, but not less than 12 months may be acceptable for an FHA-insured mortgage, if the borrower can show that the bankruptcy was caused by extenuating circumstances beyond his/her control and has since exhibited a documented ability to manage his/her financial affairs in a responsible manner

A Chapter 13 bankruptcy does not disqualify a borrower from obtaining an FHA-VA insured mortgage, provided that the lender documents that:

• one year of the pay-out period under the bankruptcy has elapsed
• the borrower’s payment performance has been satisfactory and all required payments have been made on time
• the borrower has received written permission from bankruptcy court to enter into the mortgage transaction

"Can you buy a home after a bankruptcy?" You sure can, if you filed a bankruptcy and looking to purchase a home, I welcome the opportunity to work with you on your next purchase. If you are thinking about filing BK do consult a bankruptcy attorney to assist with your decision.

Yes there is hope to purchase a home after filing a bankruptcy, call me and we can discuss your options to purchase a home. 

Lets Get Started!