How long do I have to wait to get a VA Loan after Bankruptcy?
Many Veterans have encountered financial Hardship during the past several years. Active Duty Recalls, Overseas Tours, Risky Mortgage Loans, falling Real Estate Prices, Unemployment, etc have created financial Hardship for many Veterans across the Country, resulting in Bankruptcy for the Veteran.
We have good news for our Vets: You can get a VA Loan soon as 2 years after Bankruptcy Discharge
California VA Loans After Bankruptcy: the minimum waiting period is 2 years after the Bankruptcy Discharge (for Chapter 7). It will require that you have zero late payments on anything since the Bankruptcy, and zero collections. Re-establishing credit is a must as well, whether it's a car loan, or small credit card.
Timelines for California VA Loans after Financial Hardship:
- VA Loans after Bankruptcy - as soon as 2 yrs after Bankruptcy Discharge
- VA Loans after Foreclosure – as soon as 2 yrs after Foreclosure Sale Date
- VA Loans after Short Sale – as soon as 2 yrs after Short Sale date
- Short Sales that had no late Mortgage Payments prior to date of sale may be eligible sooner than 2 yrs (sometimes immediately after sale)
If you have experienced one of these financial hardships and are a Veteran, please call us to find out how soon you may qualify to purchase a new home, upgrade your existing home, or refinance your current loan to take advantage of low interest rates. 866-900-2342 toll free direct.