Losing a home or missing payments can feel like a dead end. Bankruptcy adds another layer of stress. But it does not have to be the end of the road. Many people buy a home again after filing. It just takes time. How long you wait depends on the type of bankruptcy and the type of loan. In Dallas, the rules are the same as the rest of the country. But your credit and your choices matter. You can still own a home. Just not right away.
Waiting Periods After Bankruptcy
Lenders do not ignore bankruptcy. They need to know you can handle debt again. That is why they set waiting periods. For a Chapter 7 case, most government-backed loans like FHA or VA require a two-year wait after discharge. Conventional loans usually need four years. That clock starts the day your case is officially closed. Chapter 7 wipes out debt, but it stays on your credit report for ten years. That does not mean you wait ten years to buy. It just means the bankruptcy will still show when you apply.
For Chapter 13, the rules are a little different. Because you pay back some debt, lenders may be more flexible. FHA and VA loans may approve you after one year of on-time payments during your repayment plan. You still need court permission. For conventional loans, most lenders want to see two years after discharge. If your Chapter 13 case was dismissed instead of discharged, expect a longer wait.
Why Credit and Income Still Matter
A waiting period is not a green light. It is just the earliest you can try. Your credit score, savings, job history, and debt-to-income ratio all play a role. Lenders want to see you’ve changed. That you’re managing money better. You’ll need to show steady income and a pattern of on-time payments. Many lenders want to see a score of at least 620. Higher scores help get better interest rates. Some people use secured credit cards or small loans to rebuild. It takes patience. It takes planning. But it can work.
Think of It Like Rebuilding a Town
After the Great Fire of London in 1666, nearly all of the city had to be rebuilt. It did not happen overnight. It started with clearing rubble. Then plans were drawn. Then new buildings rose, one at a time. Rebuilding credit after bankruptcy works the same way. First, clear the wreckage. Then make a plan. Then rebuild, step by step. You may not get a mansion right away. But you can still get a solid home.
At Sims Bankruptcy Law, PLLC, we help people start over and stay strong. If you’re wondering how long after bankruptcy you can buy a house in Dallas, the answer is clearer when we look at your full picture. We’ll walk you through the timeline and what steps to take now so you’re ready later. Reach out today, call 254-304-7161 and take the next step toward owning your home.