applying for mortgages post bankruptcy
Question: how long do you have to wait before applying for a mortgage after personal bankruptcy?
Answer: You can apply for a mortgage anytime, even while you are still bankrupt (provided that you disclose to the lender that you are bankrupt). However, it is very difficult to qualify for a new mortgage while you are bankrupt. Your chances of being approved for a new mortgage increase as time passes after you are discharged from bankruptcy. In other words, you have a better chance of getting a mortgage four years after you are discharged than you have one year after being discharged.
To increase your chances of qualifying, you want as high a down payment as possible. You can consult a mortgage broker for more information.