Can I buy a house with bad credit or after a bankruptcy?
Yes, it is possible to buy a house with bad credit or after a bankruptcy, but the waiting period and terms depend on the loan type and the circumstances that led to the event. FHA loans may be available as soon as one to two years after a Chapter 13 bankruptcy discharge or two years after a Chapter 7, with some exceptions. Conventional loans typically require a longer waiting period. Credit score requirements also vary by program. A higher down payment or working with a co-borrower can sometimes help. The specifics depend on your situation and a licensed lender should confirm what programs you qualify for, and Jon can connect you with one.
Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.
More on credit and pre-approval
- What credit score do I need to buy a house?
- How do I get pre-approved for a mortgage and when should I do it?
- What is the difference between pre-qualified and pre-approved?
- How can I raise my credit score fast before buying?
- What documents do I need for a mortgage pre-approval?
- What happens if my job changes while I am under contract?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.