Edited and reviewed by CEO Vatche Saatdjian — 30+ years of experience — Expert on post-bankruptcy home loans
Bankruptcy doesn't permanently block homeownership. FHA loans are available just 2 years after Chapter 7 or 1 year into Chapter 13 payments. Here's the timeline, credit rebuilding steps, and how to qualify.
Meet waiting period: 2
years Chapter 7, 1 year Chapter 13
Rebuild credit: 580+
credit score for FHA
Show stability: On-time
payments, employment history
Nevada homebuyers approved post-bankruptcy daily • NMLS #65506
From discharge to FHA approval
From discharge date • FHA & VA loans
12 months on-time payments • Trustee approval required
From discharge • Longer wait but lower rates
Fast Track: FHA offers the shortest waiting periods. Start rebuilding credit now so you're ready when the waiting period ends.
Learn waiting periods, credit rebuilding strategies, and how to qualify for FHA, VA, and conventional loans post-bankruptcy in Las Vegas, Henderson, and throughout Nevada.
Key Takeaway: Bankruptcy doesn't permanently disqualify you from homeownership in Nevada. FHA loans require just 2 years after Chapter 7 or 1 year after Chapter 13, while VA and conventional loans have specific waiting periods. With proper credit rebuilding and documentation, Nevada homebuyers can successfully qualify post-bankruptcy.
The type of bankruptcy you filed significantly impacts your waiting period before qualifying for a Nevada mortgage. Here's what you need to know:
Successfully qualifying for a mortgage after bankruptcy requires strategic credit rebuilding. Here are proven strategies for Nevada residents:
Start with a $300-500 secured card from a major Nevada bank like Bank of America or Wells Fargo. Use it for small purchases and pay in full monthly.
Local Nevada credit unions offer credit builder loans specifically designed to establish payment history post-bankruptcy.
Ask a trusted family member with excellent credit to add you as an authorized user on their account. This can boost your score quickly.
Set up autopay for utilities, rent, and any other recurring expenses. Payment history is 35% of your credit score.
Even with limited credit, maintain low balances relative to your limits. Aim for under 10% for best results.
Las Vegas and Reno have housing counseling agencies approved by HUD that offer free credit counseling for post-bankruptcy homebuyers. These sessions can help you create a personalized plan and may be required documentation for your FHA loan application.
When applying for a mortgage after bankruptcy in Nevada, you'll need comprehensive documentation to demonstrate financial stability:
Full discharge papers and all schedules
All 3 bureaus showing post-bankruptcy tradelines
Detailing circumstances and recovery