Exactly two years after the discharge date, Alex reaches the waiting period for an FHA loan . With a credit score that has recovered to 580 and a 3.5% down payment saved, Alex is now eligible to apply.
Had Alex waited four years, a conventional loan would have become an option, potentially offering better terms if their credit score had climbed above 620. Mandatory Waiting Periods (Post-Discharge) can i buy a house after chapter 7
This fictionalized "recovery story" illustrates the typical path many take to secure a home after a bankruptcy discharge. Exactly two years after the discharge date, Alex