If you're considering the purchase of a home in Wellington using financing, most lenders indicate a 2 year hiatus until they will consider a mortgage loan. Before you apply for your loan on a Wellington home, you will want to make sure that most of your payments for bills since the bankruptcy are on time and are reported as such to the credit bureaus.
If you've already begun looking at Wellington homes, and you hope to get a mortgage loan in less than two years, you will need a virtually perfect payment history. You will definitely need to have a down payment, and it is possible that you will squeak by with 3 - 5%.
However, if you're really serious about buying a house in Wellington in less than two years, you may want to call a couple of mortgage brokers; they are likely to be current on what is happening in today's wonderful world of real estate financing.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions