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Can I Get a Mortgage After Bankruptcy?

Can I Get a Mortgage After Bankruptcy?

While declaring bankruptcy can negatively impact your credit score in the short term, you may still qualify for a mortgage loan. However, it will take some time and effort. How long a bankruptcy keeps showing up on your credit report depends on the type of bankruptcy filed. Chapter 7 bankruptcies remain on credit reports for as long as 10 years while Chapter 13 bankruptcies remain on credit reports for seven years.

Mortgage Options for Bankruptcy Filers

Unless you are a veteran or have a large amount of money to put down on a home (30% or more), you won’t be able to obtain a mortgage approval immediately after bankruptcy. Additionally, which kind of loan program you pursue will dictate how long you must wait. 

For example:

How to Improve Your Chances of Getting a Mortgage Loan after Bankruptcy 

Helpful Central Florida Mortgage Lenders 

For over 25 years, Butler Mortgage has helped both seasoned and first-time buyers achieve Central Florida homeownership. If you’ve gone through bankruptcy, we can work with you to find the best loan solution to fit your needs. For more information about obtaining a mortgage after bankruptcy, contact Butler Mortgage today by calling 407-931-3800 or by filling out our free consultation form online.

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