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Can You Still Get a VA Loan Post-Bankruptcy?

If you had a bankruptcy in the past and it involved a home that you used a VA loan to purchase, you haven’t lost your eligibility. Here’s the situation you’ll face instead.

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If you’ve had a bankruptcy in the past and it involved a home you used a VA loan to finance—have you lost your eligibility?

No, you haven’t. The Department of Veterans Affairs has a heart. They’ll always note that they lost money in that situation, but they have a non-collection policy.

You are still eligible for a VA loan, but only after a certain amount of time has passed.

Instead, they will send you a new certificate of eligibility request, note how much they lost on the home, and deduct that amount from your eligibility. You still have eligibility and you can still get another VA loan just as long as at least two years have passed since the bankruptcy. 

Remember, if you have any questions about this or any other subject, feel free to give me a call. I’d be happy to talk to you.