Can I get a mortgage after a bankruptcy?

Yes, it is possible to receive a mortgage after a bankruptcy in as little as one day after discharge.

The mortgage rates will be higher than a good credit consumer will receive. The rate you will get is totally credit related. To get lower rate credit needs to be re-established and it is vital that there are no late payments for 6-12 months on any new credit obtained. New credit can be accomplished by obtaining a secured visa or lease/loan of a vehicle just to name a couple of credit builders.

1. Within 1 day of discharge you will need a minimum of 25% down in most cases. Special circumstances might lower that. Ask us first!
2. Within in 6 months of discharge a mortgage can be obtained usually with a minimum down payment of 10-25%.
3. After 12 months from discharge the down payment may only be 5-10%
4. After 2 years it can be possible to obtain a 100% financing or no down payment mortgage

or all the mortgages listed above it is critical that credit be maintained with no late payments. To learn more about the possibility of receiving a mortgage after bankruptcy please call 266-2378.

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