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logo
  • Home
  • Refinance
  • Apply
  • Resources
  • Loan Programs
  • Fannie Mae HomeReady Program
  • Loan Process
  • Mortgage Basics
  • Mortgage Calculators
  • Online Forms
  • FAQ
  • About
  • Contact
  • Blog
  • Careers
  • Licensing
  • (800) 683-0600

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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About Us

We've been helping customers afford the home of their dreams for many years and we love what we do.

Company NMLS: 872964
www.nmlsconsumeraccess.org

Contact Us

10101 Lloyd Rd
Potomac, Maryland 20854
Phone: (800) 683-0600
info@rapideloans.com

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