Get an FHA or Conventional Loan After 24 Months

Remember -- the 24 months start from the date of discharge, not the date of filing.  You can then apply for a traditional or FHA mortgage.  

But, it is not automatic.  You are going to have to build up over the 24 months your credit by doing the following:

• Paying your bills on times
• Looking to get credit from mainstream creditors
• Have consistent income
• Avoid any additional levies
• Present a smart budget

You should start talking to a mortgage professional about 12 months after the date of discharge.  Remember -- if you don't have your discharge letter, contact your Chester County bankruptcy lawyer.  You want to be honest and upfront with the mortgage professional.   You want to put yourself in the best position by having opened and current lines of credit (i.e. credit cards).  

Put Yourself in the 

Get your credit report run.  If you have a car payment, keep it up to date.  No late payments!  Keep your debt to a minimum.  Find out what your debt-to-income ratio is.  

If possible, you will want to have as much money possible for the down payment.    FHA requires the lowest down payment is normally the best option for Chester County families.  You will need to convince the professional and the banks to pick you not because you are a nice person, but because you present a low risk of default.  Bankruptcy gave you the fresh start -- you must get yourself to the homebuying finish line by using credit appropriately.