Frequently Asked Questions
VA Loan FAQ #19:
What happens if I file bankruptcy and wish to buy another home at some point?
Veterans who file for bankruptcy are still allowed to use a VA home loan if they are eligible. Unfortunately the process does require a waiting period. You are allowed to purchase another home two years after the "discharge date" of your bankruptcy. Keep in mind that the filing date does not factor in-you must wait the two years after bankruptcy has been discharged. Once you are eligible to buy another home, the usual credit and income requirements apply.
VA Loan Questions
- FAQs Index
- What is a VA loan?
- Is using my VA loan eligibility a good idea?
- What can I buy with a VA home loan?
- What is the maximum amount I can borrow with a VA home loan?
- What can be done when both husband and wife are eligible?
- I am a veteran who purchased a home with my spouse utilizing my VA eligibility. I am now divorced and my spouse was awarded the home. How do I get my eligibility back?
- I heard the VA has an inventory of foreclosed homes. How can I find out more about this?
- What role does the VA play in helping me get a loan?
- Do I have to take a fixed rate VA loan?
- Should I get a pre-approved loan?
- How do I get proof of eligibility?
- I don't have an honorable discharge, am I automatically disqualified from VA loan eligibility?
- What if I can't find my DD214 form?
- Is it possible to use my VA eligibility more than once?
- What is the one-time exception for renewing VA eligibility?
- Can I get eligibility for another VA loan even though I am still working on the first one?
- Can I use my VA loan to buy a rental property?
- What happens if I file bankruptcy and wish to buy another home at some point?
- How is my VA home loan eligibility determined?
- Can I get a home equity refinance with the VA?
- Am I limited to buying an existing home with a VA loan?
- Are there fees associated with my VA home loan?
- Who is exempt from paying the VA funding fee?
- Can I bring on a co-signer on my VA home loan?
- How does the Veterans Benefits Act change my loan process and entitlements?
- Can the VA help if I think I may be encountering discrimination in my search for a home?
- Can I use a VA loan to buy a reposessed house?
- How can I help myself before applying for a VA home loan?
- What help does the VA offer in the homebuying process?
- Will the VA help if my property is poorly built or defective?
- Can I buy a farm with a VA loan?
- Can I make a home purchase outside of the US?
- What if I die before paying off my VA loan?
- Once I sell my property, am I released from my VA loan obligation?
- What happens if my mortgage is sold to another mortgage company?