How soon can you obtain a mortgage loan after bankruptcy?

It can take two to three years to obtain a mortgage loan after bankruptcy. If you have been through a foreclosure, most lenders require at least a three year waiting period. Lenders typically require a two year waiting period after the dismissal date of a bankruptcy in order to approve a new mortgage. However, just because a bankruptcy has been dismissed and closed does not mean it will not negatively affect your ability to obtain a mortgage loan without substantial costs. Some lenders will deny your application outright if your credit has not recovered, and others will charge extremely high fees to issue you the loan.

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