Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy

 by: Carrie Reeder

If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis on the other two factors needed to get a mortgage loan, which are; income verification and a down payment.

After bankruptcy most lenders want you to wait at least 2 years from the time of the bankruptcy discharge before they will consider you for a mortgage loan. After the two year waiting period is over, you should be able to get financing easily. You should also be able to get 100% financing as well. You can usually achieve this as long as at least most of your payments have been reported to the credit bureau as having been paid on time since the discharge of your bankruptcy.

If you are looking to get a mortgage loan after bankruptcy sooner than the 2 years from the time of discharge, you will need to have almost flawless payment history since your bankruptcy discharge. Also, you may need to have a down payment. If you have even 3-5% to use as a down payment, that may be enough to help you get approved.
  (continued...)

Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
  Page 2

About The Author Carrie Reeder is the owner of www.abcloanguide.com. ABC Loan Guide is an informational site with articles and lists of recommended lenders for bad credit mortgage loans. carrie@abcloanguide.com

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

---

Ohio Heroes Program for First Time Home Buyers in the State of Ohio
One of the most popular programs of the Ohio Housing Finance Agency is the Ohio Heroes Program which is exclusively intended for active military men, active reservists, veterans, firefighters, emergency medical technicians, paramedics, and several other individuals with noble professions.

---

Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.

---

First Time Homebuyer Programs in Delaware
In the year 1968, The Delaware State Housing Authority was created as a public corporation under the Delaware State Department of Housing. The move was inspired by the need to address the concerns of the people in Delaware who seek homebuying-associated assistance.

---