Buying a Home After Bankruptcy or Foreclosure With a VA Loan

If you’ve had a bankruptcy or foreclosure in the past, you might think homeownership is off the table. It’s not.VA loans are actually one of the most forgiving loan options when it comes to past financial hardship. Here’s what you need to know:

The Waiting Periods

• Chapter 7 Bankruptcy: 2 years from discharge
• Chapter 13 Bankruptcy: 1 year of on-time payments with trustee approval
• Foreclosure or Short Sale: 2 years from the date of transfer or sale

What Matters Most

• Have you re-established credit since the event?
• Are your current debts manageable?
• Do you have stable income?
• Was the event caused by a one-time hardship, like medical issues, divorce, or military transition?

I’ve helped buyers get approved the same month their waiting period expired. I’ve also submitted strong cases for exceptions based on circumstances and gotten approvals. 

You Are Not Your Past

If you’ve served this country, you earned the right to use your VA benefit. And that includes a second chance after life threw you a curveball. The key is working with someone who knows how to read your full financial picture and not just your credit score. If you’re unsure about where you stand or when you’re eligible, I can pull your VA Certificate of Eligibility, review your credit, and tell you exactly what’s possible. No more guessing. Just someone to help guide you towards your goals.