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When can we apply for a loan?

Both my husband and I have BKs. How long do we have to wait before we apply for a loan? Would it be better to just have the loan under my husband name so only 1 bk shows up? by shar.bare80350 from Lakemont, Georgia. Oct 16th 2017 Reply


LaWanna Bradford (lawanna@bradfordgroupmtg.com)
#109 ranked lender in Georgia - 9 contributions

Hello, The type of BK you filed will determine how long you must wait before applying for a mortgage. If you filed a Chp 7, it is typically 2 year, and a Chp 13 is a year. Another factor that will determine the length is the type of loan you are seeking. At The Bradford Group, our Loan Advisors will work with you to help you weigh your options and position you to reach your dream of owning a home once again. Please call us at 404-618-2824 to discuss the details of your situation, or visit our website at www.bradfordgroupmtg.com.

Oct 16th 2017
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We have a 1 day out loan that is a good way to reestablish credit. FHA is 2 years and conventional is 4. Tom@lendfm.com for more details.

Oct 17th 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,553 contributions

All your standard and preferred loan programs have a mandatory minimum waiting period after a bankruptcy before you can apply for a new loan. The waiting period depends on what type of new loan you are applying for. Their are sub-prime loans that have no waiting period. They will have much higher rates and bigger down payment requirements. Contact a local mortgage broker to get an idea on your situation, and review the information on this web page for standard waiting periods: http://joemetzler.com/waiting-period-after-foreclosure-short-sale-or-bankruptcy.htm

Oct 17th 2017
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