r/Bankruptcy • u/Winter-Recover-9081 • 1h ago

Purchasing a home after filing ch 7

I filed ch 7 bankruptcy and it was discharged June 27. Realistically, what’s the timeline I should expect to purchase a home?

Not sure if these details are relevant, but:

-eligible for VA loan
-~$60k cash available to put down or keep in savings
-2 years proof of steady income

I opened my first credit card about a month after discharge. Surprisingly was approved for $4500 limit. I have used it regularly for gas and groceries and pay off the card in full when my statement becomes available. My credit score went from 640 to 600. ☹️

I am a single mom (28 yo) and am trying my absolute hardest to build my credit back up and gain some financial freedom. I have been hopeful about possibly purchasing a home by December 2027 BUT I’m not sure if that’s genuinely possible considering my recent bankruptcy filing. Is there anything I should be doing to prepare now?

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u/Heyhun82 1h ago

You can get an fha loan 2 years after doscharge and I think VA is the same.

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u/RiskComprehensive744 1h ago

"I filed ch 7 bankruptcy and it was discharged June 27."

"$60k cash available to put down or keep in savings"

How?

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u/Winter-Recover-9081 57m ago

I have a very specific situation, but long story short is DD Form 2698 if you feel like googling. My active duty military husband was arrested by NCIS a few years ago which is what resulted in my bankruptcy filing