Buying a home after filing bankruptcy is possible. How soon it can happen depends on the type of mortgage being sought, whether through conventional lenders or government-backed options like FHA and VA loans.
Frequently Asked Questions
How soon can I buy a house after I file bankruptcy?
A lot of clients ask if they can buy a home after filing a bankruptcy, and the answer is absolutely you can. There’s different types of lenders and different types of mortgages. There’s your conventional lenders, like the big names such as US Bank, Chase, Planet Home Lending.
And then there’s your government-backed lenders, like your FHA and VA loans. You can absolutely purchase a home after filing a bankruptcy. How soon after the bankruptcy you can purchase the home is going to depend on the type of mortgage that you’re seeking.
Are you struggling financially? Pratt & Maegli Law Firm in Rockford helps Illinois families and individuals explore Chapter 7 and Chapter 13 options with clear answers and a personal approach. Call (815) 315-0683 or visit rockfordbankruptcytoday.com to schedule a confidential consultation and take the first step toward real financial relief.