(760) 943-6777
  • 			    Helping you to create a brighter future is what we do best!

    Helping you to create a brighter future is what we do best!

  • 			    Whatever type of home loan you need...We're here to find the right fit for your situation.

    Whatever type of home loan you need...We're here to find the right fit for your situation.

  • 			    With over 25 years in the industry, you can trust us to answer all of your questions and walk you through the loan process.

    With over 25 years in the industry, you can trust us to answer all of your questions and walk you through the loan process.

If I've Had a Bankruptcy in Recent Years, Can I Get a FHA Loan?

Yes, generally a bankruptcy won’t preclude a borrower from obtaining a FHA Loan. Ideally, a borrower should have re-established their credit with a minimum of two credit accounts such as a car loan, or credit card. Then wait two years since the discharge of a Chapter 7 bankruptcy, or have a minimum of one year of repayment for a Chapter 13 (the borrower must seek the permission of the courts). Also, the borrower should not have any credit issues like late payments, collections, or credit charge-offs since the bankruptcy. Special exceptions can be made if a borrower has suffered through extenuating circumstances like surviving a serious medical condition, and had to declare bankruptcy because the high medical bills couldn't be paid.

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