Whitley Mortgage Associates, Inc. NMLS# 107585

Ask The Expert #1: Veterans with a Bankruptcy…and What Next?

Over the years, we have seen that residents in the community have many questions about borrowing for a home purchase.

We are asking our Whitley Mortgage Associates, Home Loan Experts, important questions and will be bringing you the answers weekly.

Today we ask Renee Hendricks this question:


Renee, when a veteran has filed bankruptcy, can they get a home loan? If so, how and when?


Renee: When a veteran who has filed bankruptcy, either chapter 13 or chapter 7, wants to buy a home, they can typically buy a home quicker than a non-veteran can. If a veteran files a Chapter 7 bankruptcy, he or she can typically be eligible for a VA home loan two years after the discharge.

If they file a chapter 13 bankruptcy, they can typically qualify for a VA home loan in one year!

They must still meet the minimum credit score requirements and have sufficient income to meet the debt to income ratios.

One more great piece of information is, if the veteran is disabled and receives VA disability pay, he or she can also be exempt from the VA funding fee.

Call Renee, or one of our Home Loan Experts for more information on this or other home loan related questions!

Renee Hendricks (NMLS#93687): Cell 704-297-9163 or 704-283-9465 ext. 309

Whitley Mortgage Associates, Inc. NMLS#107585

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