Bankruptcy is a hard topic – people have a lot of questions, but often are afraid to ask.  Not here!  We’re here to help you, no matter what your situation.  Honestly, against popular belief – bankruptcy isn’t that uncommon.  It happens all the time, to all kinds of people, in a variety of situations.  No matter what, you get treated the exact same way as anyone else does who calls us.  And believe us, buying a home after bankruptcy is possible – and we’ll help you get there.

If you have some questions about buying a home after bankruptcy – here’s a good start.

There are TWO options when you file for bankruptcy: Chapter 7 and Chapter 13.  There’s different things to consider about each that will change how you approach a mortgage after bankruptcy.  Here’s a quick understanding of both options as they relate to the possibility of buying another home:

  • CHAPTER 7: All charge cards and debt are wiped out – everything.  From when a Chapter 7 is discharged, you must wait 2 years before you can apply for a home.  That’s across the board, everywhere. And within that two years, you must have impeccable credit.
  • CHAPTER 13: Basically, filing for Chapter 13 means you’re in over your head, but you want to negotiate paying it back.  Chapter 13 sets a 5 year payment plan to help do that.  After just one year of making on-time payments, you can buy a home.

The time constraints are different on each option, but overall there are some strategies you can implement to prepare for buying a home after bankruptcy:

  • Make sure your payments are on time. When you are being evaluated for a mortgage, your consistency is key.
  • Keep your credit spotless. Bankruptcy doesn’t edge you out of approval forever. If you can show that you’ve gotten back on your feet, and kept your credit above-board, you can still qualify for some great mortgage options.
  • Start setting aside money for a down payment and closing costs. This is another thing that lenders look for, to make sure you are prepared to be a home owner.


If you have questions and want to talk to a team who has the same values you do – give us a call.  We’re a Christian Mortgage team who love to work for families like ours.  We get calls about bankruptcy all the time – so there’s no need to be afraid to talk about it.  And we’ll do our best to help you get the home of your dreams for you and your family.


God bless,


The Christian Mortgage Mom