Buying A Home After Bankruptcy
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What Is the Possibility of Buying a Home After Bankruptcy?
The possibilities of buying a home after bankruptcy are wonderful, but you will have to wait a bit before making it happen. Most lenders will look favorably on your request for mortgage financing if -
- Around two years have passed since your discharge.
- You have reestablished credit and all payments have been made as agreed.
- You have a proven source of regular income.
- You have the ability to generate some funds for a down payment from savings, gift or another source that does not impede your debt to income ratio.
Once you can meet the above conditions, you should be able to purchase a home.