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Can I Qualify for a VA Loan if I’ve Declared Bankruptcy in the Past?

by janettharry55849 from San Diego, California. Apr 13th 2017 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

More info need, and I'd be happy to look at your scenario to see for sure, but the short answer is yes.. VA guidelines allow you to purchase after a BK, but there are mandatory waiting periods which are different depending on whether or not you did a 13, 7 or if there was a home that foreclosed included in the BK. Feel free to give me a call.. it takes 5 minutes to determine if your eligible. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Apr 13th 2017
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Al Hensling (alhensling)
#405 ranked lender in California - 12 contributions

A Bankruptcy does not preclude your ability to obtain VA financing.To determine your eligibility please feel free to contact me at 800-708-5626 x 110.Al HenslingUnited American Mortgage NMLS 1942

Apr 13th 2017
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John Burke (jburke)
#1 ranked lender in Texas - 183 contributions

Hi Janettharry55849,Yes you can. If you filed a chapter 7 the waiting period is 2 years from the discharge date, regardless of whether or not you included a mortgage in the BK. If you filed a chapter 13, you're eligible as soon as it's been discharged.| Please feel free to contact me for more information or help. | John Burke | Senior Mortgage Banker | Great Plains National Bank http://www.valoansdoneright.com | (877)228-9069 | Lending in ALL 50 states

Apr 13th 2017
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Blake Kleckner (BlakeK)
#358 ranked lender in California - 250 contributions

Yes you can depending upon when the bankruptcy occurred and other qualifying factors.Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. If you get a chance, read some of my blogposts on Lender411. They are quite informative. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. I started doing mortgage loans in CA in 2006, only do them here so I have an exceptional understanding of this extraordinary market, and, unlike the vast majority of loan officers, I am an accountant by education. As such, I am able to analyze current market conditions and structure creative loan alternatives for my clients in a manner much different, and more advantageous to them, than virtually all other loan officers. Representing more than 60 quality lenders that offer in excess of 1,500 loan programs, we definitely have something for everybody.

Apr 13th 2017
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Larry Gray (lgray_312_247)
#5 ranked lender in California - 1,127 contributions

the short answer is absolutely you can. And as mentioned in other comments it will depend on evaluating your own situation. I have worked with many borrowers who have gone thru BKs, low credit scores due to difficult economic circumstances/learning curve, and foreclosure. I am currently completing a VA loan with a 585 fico score and even used V A benefits on my own past loan in which rate was much better than for a conventional loan. I would love to assist you.

Apr 14th 2017
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