 TITLE: Can I Get a Mortgage After Bankruptcy? CONTENT: Types of Mortgage Loans to Consider After Bankruptcy\n----------------------------------------------------\nIf you want to try to get a mortgage after bankruptcy, you can research a number of different types of loans. Each mortgage loan has its own unique requirements for bankruptcy filers.\n### FHA Loans\nFederal Housing Administration (FHA) loans are managed by the federal government and may allow you to buy a house with a down payment that's as little as 3.5% of the purchase price. The downfall of FHA loans, however, is that you'll have to pay for mortgage insurance, which will result in higher monthly payments.\nTo get a mortgage after bankruptcy using an FHA loan, you'll have to adhere to these waiting periods:\n*   **Chapter 7**: Two years from your discharge date\n*   **Chapter 11**: No waiting period\n*   **Chapter 13**: One year from your discharge date\n### USDA Loans\nU.S. Department of Agriculture (USDA) loans are designed for rural borrowers who meet certain income requirements. It may be a good option if you'd like to buy a house in a rural area, have a low or modest income, and aren't eligible for a conventional loan. If you go this route, you may not have to put any money down and you may be able to secure a low interest rate.\nKeep these waiting requirements in mind if you're interested in getting a USDA mortgage after bankruptcy:\n*   **Chapter 7**: Three years from your discharge date\n*   **Chapter 11**: No waiting period\n*   **Chapter 13**: One year from your discharge date\n### VA Loans\nIf you're a veteran or currently serving in the military, you may be eligible for a Department of Veterans Affairs (VA) loan. A VA loan doesn't require a down payment or charge private mortgage insurance and can give you the chance to lock in a low interest rate. If you pursue a VA loan, however, you'll have to pay a funding fee, which will be a percentage of your home price.\nHere are the waiting requirements you should be aware of if you'd like to get a VA loan after bankruptcy:\n*   **Chapter 7**: Two years from your discharge date\n*   **Chapter 11**: No waiting period\n*   **Chapter 13**: One year from your discharge date\n### Conventional Loans\nSince conventional loans are not guaranteed or insured by government agencies, you can expect stricter requirements, such as having a good credit score, if you apply for one. If you get a conventional loan and put down less than 20% of the cost of your new home, you'll need to pay private mortgage insurance.\nThe waiting requirements for taking out a conventional loan after bankruptcy are as follows:\n*   **Chapter 7**: Four years from your discharge date\n*   **Chapter 11**: Four years from your discharge date\n*   **Chapter 13**: Two years from your discharge date or four years from your dismissal date END