How long after a bankruptcy do I have to wait to purchase a home?

Your traditional loans all have mandatory minimum waiting periods. The waiting period depends on what type of bankruptcy (Ch 13 or 7), and what type of new loan. So hard to answer without more information. Then you also have non-traditional loans, where you can get a loan right away after a bankruptcy- but expect large down payment requirements, and high interest rates. For a list of waiting periods on traditional loans, go to https://joemetzler.com/waiting-period-after-foreclosure-short-sale-or-bankruptcy.htm

It is also important to know the discharge date versus when the BK in filed. I am able to help people with their mortgage needs throughout IL. https://saradeere.leader1.com.

just 2 years from the discharge date. Call me anytime to get pre-approved now or for the future. My office is in Lombard. 630-347-6321

More info needed, specifically, if a home was included in the BK and was the home in foreclosure or delinquent at the time you filed BK.. For FHA, 2 year waiting period, but if a home was included, then you have to wait 3.. But FHA also has a program where the waiting period is 12 months.. however, the guidelines are very strict, and few that apply actually get approved.. For conventional, it's 4 years, but if a home was included, it could be 7 depending on the payment status at the time you applied.. VA is 2 years, but you must have VA benefits available to you to qualify.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893