Can I get an FHA mortgage loan after claiming bankruptcy?

Posted on Aug 3, 2012 in FHA Information

Question by : Can I get an FHA mortgage loan after claiming bankruptcy?

Best answer:

Answer by Cold
You’ll have to wait at the very least 3 full years after that bankruptcy.
A good down payment of 20%, page stuff may allow the banks to give it to you after only 2 years…

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5avg.rating 27 votes.


  1. FHA requires 1 year minimum after Chapter 7 discharge or 2 year minimum if it was due to financial mismanagement. For Chapter 13 there must be at least one year of timely payments and you must get permission from the bankruptcy court.

    Even if the required time has passed you still need to qualify and it is difficult to get a qualifying credit score that soon after a bankruptcy. Most lenders are requiring at least 640 now. There will be no tolerance for any late payments after bankruptcy.

  2. FHA is about the only way to go with mortgage financing after a bankruptcy. For a Chapter 7 bankruptcy, a borrower must wait at least 2 years after the discharge to apply for FHA financing. For a Chapter 13 bankruptcy, there is a minimum wait of 1 year and the documentation of satisfactory payments. In either case, re-establishment of good credit is a must.

  3. I've heard this before.

  4. Excellent work on the article cabouting government loans.