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how long to wait after bankruptcy to apply for a first homeownership mortgage?

  • April 09 2011 - Phoenix
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Answers (3)

The FHA guideline's require you to wait 2 years after a chapter 7 bankruptcy has been discharged and 1 year after a chapter 13 bankruptcy has been discharged.

For a conventional loan the bankruptcy must be discharged for 4 years.

You will need to re-establish your credit during this time.  Review your credit report soon after the discharge to make sure all creditors have properly reported the debts that were discharged in your bankruptcy.

Best of luck!

The Chris Eldridge Group
  • April 10 2011
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Profile picture for wetdawgs
Are you referring to filing bankruptcy or from the date of discharge?  Chapter 7 or Chapter 13?
  • April 09 2011
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2 years, minimum, depending on the type of mortgage loan.  Best bet is to consult with an experienced, reputable mortgage lender.  Let me know if you want or need a reference to a good lender.
  • April 09 2011
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