You receive from the bankruptcy court or trustee to take on new mortgage debt. Understanding "Discharge" vs. "Dismissal"
The exact timeline depends primarily on the type of mortgage you choose and whether your bankruptcy was successfully (completed) or dismissed (terminated early). Waiting Periods by Loan Type Loan Program After Chapter 13 Discharge After Chapter 13 Dismissal During Active Repayment FHA Loan No waiting period After 12 months of on-time payments* VA Loan No waiting period After 12 months of on-time payments* USDA Loan No waiting period After 12 months of on-time payments* Conventional Not allowed
You have completed at least of the court-ordered payout period. how long after chapter 13 can i buy a house
*Requires written permission from the bankruptcy court or trustee.
You successfully finished your court-approved plan. Lenders view this favorably as it shows financial discipline. You receive from the bankruptcy court or trustee
For government-backed loans (FHA, VA, USDA), you don't necessarily have to wait for the entire 3- to 5-year repayment plan to finish. You may qualify if:
Buying a home after a Chapter 13 bankruptcy is often possible much sooner than with other types of bankruptcy, sometimes even while you are still in the middle of your repayment plan. Waiting Periods by Loan Type Loan Program After
All bankruptcy payments during the last 12 months were made .