Buying a Home After Experiencing Bankruptcy

Perfect time to buy a homeBelow are some of the most common questions we receive from clients about how to get a mortgage after going through bankruptcy, and general mortgage-related questions on this topic. There is a lot of incorrect and misleading information out there regarding getting a home loan after a past bankruptcy.  We have tried to provide the most up to date and accurate information for you. 

How long do I have to wait after bankruptcy to get a mortgage?
Our preferred lenders offer mortgages to our Chapter 13 Bankruptcy clients as soon as one day after discharge (some other lenders make you wait up to two years).

During Chapter 13 Bankruptcy our clients can get a mortgage as soon as one year into their plan.

How long do I have to wait to refinance after a bankruptcy discharge?
After Chapter 13 Bankruptcy a mortgage loan can take anywhere from 30 days to 3 months. Great communication and efficient service like the service provided by from our preferred lenders is the key. The most common issues that slow the process down deal with credit, title, property condition and how quickly the lender receives all requested documentation from you. Our lenders love to help our customers clear up these issues and put them on a brighter path.

What credit score is required to get a mortgage after bankruptcy?
Lenders generally required credit scores of 620 and up.  Sometimes there can be errors on the customer’s credit report after a bankruptcy that our lenders can help address. They can also guide you on the best ways to quickly improve your credit score after bankruptcy.

CLICK HERE to read more about the process to getting your next mortgage after bankruptcy (this information is provided by Peoples Bank Mortgage, one of our preferred lenders). 

Once you get the pre-approval from our lender, please call us on 843-900-0155 to help you find the best house at a great price!