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Posted in Mortgage
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Jengrant03

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mortgage after bankruptcy

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Depending on the type of BK, either Chapter 7 or 13, yes you may be able  to qualify for a mortgage. Here are the waiting periods.

Chapter 7

1.) NonQM or Portfolio- 1 day after discharge

2.) FHA and VA - 2 years after discharge

3.) USDA  Rural Development Loan - 3 years after discharge

4.) Conventional - 4 years after discharge

Chapter 13

1.) FHA, VA, USDA - 12 months into CH13 with no payments and with Court permission. No waiting period after discharge

2) Conventional - 2 year waiting period after discharge

3.  NonQM- Portfolio - 48 months into a CH13  or no waiting period after discharge.

There are exceptions due to extenuating circsumtances.

Top Contributor
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There are several articles here addressing requirements for getting a mortgage, so I advise taking the time to read them. You didn't say when the BK took place and that can have an effect on whether or not you can get a mortgage.

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