You may qualify sooner (often 12 months for Chapter 7) if you can prove extenuating circumstances , such as a serious illness or job loss beyond your control. 2. Loan Requirements After Bankruptcy
The clock typically starts on the date your bankruptcy is (debt cleared) or dismissed (case closed without discharge), not the date you first filed. Chapter 7 Waiting Period Chapter 13 Waiting Period Conventional 4 years from discharge 2 years from discharge FHA Loan 2 years from discharge 1 year into repayment (with court approval) VA Loan 2 years from discharge 1 year into repayment (with court approval) USDA Loan 3 years from discharge 1 year into repayment (with court approval) buying a house after filing bankruptcy
FHA loans often accept scores as low as 580 with a 3.5% down payment, while conventional loans usually require at least 620. You may qualify sooner (often 12 months for