Will I qualify for a mortgage loan if I’ve filed bankruptcy in the past?

Answer

While you won’t qualify for a mortgage loan soon after your bankruptcy, that doesn’t mean you will never qualify. It takes longer to qualify for a conventional loan, but you may qualify for a Federal Housing Administration loan two years after the discharge date of a Chapter 7 bankruptcy and one year after filing for a Chapter 13 bankruptcy.

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You may qualify for a conventional loan

For the latter, you will need bankruptcy court approval. For conventional loans, it’s a least four years after a Chapter 7 discharge. Once your Chapter 13 bankruptcy is discharged, you may qualify for a conventional loan within two years, but it is four years if your bankruptcy was dismissed without discharge.

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