Looking for improvement

• You can still get a mortgage after Chapter 7Image by Flickr.com, courtesy of borman818
  
  When lenders consider whether to give you a mortgage loan, they will look at how well you handle your finances. A Chapter 7 bankruptcy on your record doesn't help, but if you can show lenders you've learned your lessons and are managing your money wisely, you can still qualify for a mortgage loan.
  
  

Up to 10 years

• Time is the cure for bankruptcy woesImage by Flickr.com, courtesy of Michel Filion
  
  A Chapter 7 bankruptcy comes off your credit report after 10 years. This means that your credit score will no longer be affected by your bankruptcy after this time. Of course, 10 years is a long time, which is why bankruptcy should only be an option of last resort.
  
  

The longer you wait, the better the loan

• Don't apply for a mortgage loan too soon after your bankruptcyImage by Flickr.com, courtesy of ryaninc
  
  The longer you wait to apply for a mortgage loan after a bankruptcy, the better your interest rates will be. This is especially true if you can show that you are now paying your bills on time.
  
  

Large down payment helps

• Lenders consider bankruptcy filings as warning signsImage by Flickr.com, courtesy of T
  
  Mortgage lenders will also like you to make a larger down payment if you have a bankruptcy on your record. This provides them a bit more protection. Remember, even if your Chapter 7 bankruptcy no longer is dragging down your credit score, mortgage lenders still will consider a bankruptcy, even one far in the past, as a warning sign.
  
  

Shop around

• Shop around for your post-Chapter 7 loanImage by Flickr.com, courtesy of Ludovic Bertron
  
  Mortgage lending is an extremely competitive business. This is good news if you have a Chapter 7 bankruptcy on your record. You can shop around until you find a "bankruptcy-friendly" lender who will give you a better rate and lower fees on a mortgage loan.