Home Buying in Las Vegas>Question Details

Rosemarie Ta…, Home Buyer in Piscataway, NJ

Can I still buy a house 1 yr after bankruptcy?

Asked by Rosemarie Tan-tiongco, Piscataway, NJ Mon Mar 3, 2014

It's been a year since my bankruptcy. We are planning to buy a house in Las Vegas. My husband is still working and I get social security. My question is:
1. Will I be able to buy a house although it's only been 1 yr after bankruptcy?
2. I'm planning to put at least a 25% down payment would I be able to qualify for a loan despite my bad credit?

Thanks I would appreciate any feedback I can get

Help the community by answering this question:


Please contact me immediately so we can get your approved with our lenders and start your home search! I look forward to hearing from you!
1 vote Thank Flag Link Fri Mar 14, 2014
We need more info in order to be able to properly assist you. For example were there any short sales or foreclosures involved in your BK?

Your best bet is to contact a reputable loan officer and have them run your scenario. It is free and then they will be able to tell you what you can get approved for and/or what you should do to get approved.

If you new a referral to a reputable loan officer please feel free to contact me directly and i will forward you their contact info.

I hope this is helpful! Good luck with your home search please let me know if I can be of any assistance.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
1 vote Thank Flag Link Tue Mar 4, 2014
Hi Rosemarie,

Very possibly, yes especially with that down payment. You may qualify for a new FHA program that allows one year out of bankruptcy and if not I have portfolio programs with very good interest rates. I would have to know more about all the details to truly advise you.

I am available to help you at your convenience if you wish.

I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”


Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

0 votes Thank Flag Link Fri Mar 7, 2014
This is a question that you should definitely ask a loan officer about. There are a some programs I believe for people who are looking to buy after Bankruptcy that lenders know about but we don't. Good luck to you.
0 votes Thank Flag Link Fri Mar 7, 2014
It's best to sit down with a local lender. It's important to know the discharge date, as it will be the basis when they count the days and if your scenario will fit the guideline.

Good luck!

Charmaine Prospero
The Agency
0 votes Thank Flag Link Fri Mar 7, 2014
We have a 1 day out of BK and foreclosure loan. The rates are higher, but you can refinance once the traditional waiting period for FHA is up. The guidelines say 2 years from the discharge date but some lenders, have an additional overlay of 3 years from the discharge date.

Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been offering loans since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.

Bart Gabe - Lending Nationwide Since 1987

800 315 8803 or 702 562 7915


0 votes Thank Flag Link Tue Mar 4, 2014
Are you planing on moving from New Jersey to Las Vegas? Without local employment for last 12 months, you will NOT get a loan.

David Cooper. Finding You Great Deals Since 1994
READ MORE http://www.lasvegaswinner.org or CALL 1.888.616.6226
0 votes Thank Flag Link Mon Mar 3, 2014
We can finance after bankruptcy, short sales, and more. We have several programs, and $0 lender/orig fees. Contact me with any questions through my profile!
0 votes Thank Flag Link Mon Mar 3, 2014
You might get a loan with a local lender. They decide on case to case basis. However, for Fannie Mae backed loans you'll have to to wait at least for 3 years. You must meet with a mortgage lender to discuss in details.
0 votes Thank Flag Link Mon Mar 3, 2014
Absolutely. I work with a couple of Lenders that have "Second Chance Loans" if you've had a bankruptcy, short sale or foreclosure. Give me a call I would love to share this information with you 702-366-5385.
0 votes Thank Flag Link Mon Mar 3, 2014
Rosemarie, the answer is YES! We work with a lender that has a great program for buyers just one day out of bankruptcy (as long as it has been fully discharged) or foreclosure! It does require 20% down payment and verification of income, but obviously FICO scores don't matter.

You can get in touch with All Western Mortgage by phone or email at:


They are the largest local lender in Nevada and have the widest array of programs.

And when you are ready to look at homes for sale, you can go to our web site at:


This site is updated daily so that you are not looking at contingent listings like you do on the national sites like Trulia or Zillow. That will save you hours of time and frustration!

Hope this helps,

Diann Tonnesen
Prudential Americana Group Realtors

The Tonnesen Team - with over 30 years of experience helping families call Las Vegas "home!"
0 votes Thank Flag Link Mon Mar 3, 2014
What is your FICO score? You will need to show steady income.

David Cooper Finding You Great Deals Since 1994
READ MORE http://www.lasvegaswinner.org or CALL 1.888.616.6226
0 votes Thank Flag Link Mon Mar 3, 2014
Yes you can! With my City First Select program you can buy a home 1 day out of bankruptcy. 20% is the minimum down payment. Call or click the link below, and I will be more than happy to share the details. I look forward to hearing from you.

Check me out at the link below and get your clients an approval today!

Thank you for choosing City First Mortgage Services,

Nathan T. Kessler | Sr. Mortgage Loan Originator
City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
nathan.kessler@city1st.com http://www.city1stlasvegas.com
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
0 votes Thank Flag Link Mon Mar 3, 2014
Hi Rosemarie,

Standard guidelines for a conventional loan require a 4 year wait after the discharge of a bankruptcy.

FHA guidelines permit you to apply 2 years after discharge, so long as you have also re-established good credit since the bankruptcy...meaning that you have at least 3 active tradelines with at least a 12 month history and NO late payments or collections since the bankruptcy. However, if a mortgage was included in the bankruptcy then the waiting period is 3 years.

There are a very limited number of "extenuating circumstances" by which you might be able to qualify as soon as a year out of bankrupcty. Basically death of one of the borrowers or a prolonged UNINSURED illness are the main circumstances. And you need to have had otherwise otherwise good credit before the bankruptcy.

There is one other exception to the rule. If your bankruptcy was a direct result of an "economic event" where you suffered at least a 20% reduction in income due to job loss, then you may qualify for FHA's new "back to work" exception. In other words, if your credit was otherwise good and you suffered a job loss or a pay cut out of your control, you might be able to qualify sooner.

Please give me a call or email me your contact information and we can discuss your situation in more detail to see if there is hope now or if you need to wait a little longer

Tony Grech | Mortgage Loan Originator | NMLS 977416
PMAC Lending Services, Inc.
Direct (248) 728-0078 | Fax (248) 595-7130 | Cell (313) 622-7383
0 votes Thank Flag Link Mon Mar 3, 2014
It is highly possible but you would need to speak to the right lender. Do you know what your FICO score is?

If you need a referral for an agent in Las Vegas, you want to speak with Myra Gouger at Realty One. Her number 702-858-9311.
She is one of the best agents in town and works with relocation buyers all the time. She can help you with a home anywhere in the Las Vegas Metro Area
0 votes Thank Flag Link Mon Mar 3, 2014
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