Is it possible to get a mortgage after a bankruptcy?

There is a program through the FHA that will allow you to qualify after only one year from your discharge date, but it requires a loss of income of a certain percentage for a certain amount of time and can be quite tough to qualify for. Otherwise, you would be eligible once you've reached two years from your discharge date.

We have a program that allows for financing 1 day out of bankruptcy, with certain down payment requirements. Check out my contact info at Jim Schaefer mortgage dot com for more info!

Hi Mommytimes4eva811,It depends on the chapter you filed, whether or not you included a mortgage & potentially the reason why you filed. For example: If you filed a chapter 13, you may be eligible right now for an FHA or VA mortgage but if you filed a chapter 7 you would have to wait until the bk has been discharged for 2 years. The 2 year wait can be reduced to one year if you qualify for an exception based on extenuating circumstances. For example: If the BK was caused by the death of primary wage earner or major medical problems. | Please feel free to contact me for more information or help. | John Burke | Senior Mortgage Banker | Great Plains National Bank http://www.valoansdoneright.com | (877)228-9069 | Lending in ALL 50 states

Yes and NO.. For all conforming loan products, they all have mandatory waiting periods.. FHA says if you are 1 year out of a BK, and you can prove you had a 20% reduction in income which caused the BK, then the "Back to Work" program might work, but understand the guidelines are very strict and few that apply actually get approved.. otherwise, you are looking at a 3 year waiting period for most all other "Conforming" loan programs.. there are some "Portfolio" or "Private Money" (AKA hard money) loans available.. but the rates, down payment requirements and terms are very ugly.. It's usually best you just wait it out until you meet the mandatory waiting periods for conforming loan financing.. WilliamAcres.com Arizona/California NMLS # 226347 480-287-5714

There is much more information needed to answer your question. What kind of bankruptcy was is? Also what your current credit scores are, if you have enough income, etc. Most of the lenders I deal with you need to be out of bankrupty for a minimum of 2 years (the discharge date).