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iubitamea · Joined: 24 Nov 2009 Posts: 1 1.26 Dollars($)

I filed for Chapter 13 in August of 2009. I have paid three months so far. When can I apply for a mortgage loan? I am trying to purchase my first house. Is it also possible to get a USDA loan? I live in Augusta, GA.

jameshogg · Posted: Wed Nov 25, 2009 12:45 am Post subject:

Hi iubitamea,

As you've filed Chapter 13, you won't be able to qualify for any type of mortgage immediately. Lenders would give you a conventional loan after 2 years of your bankruptcy discharge. If you want a FHA loan, you'll have to wait for 1 year after your bankruptcy discharge. You can check out the credit repair tool from the page given below and check out how you can improve your credit and apply for another mortgage:
http://www.mortgagefit.com/calculators/credit-repair.html

Thanks

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