You may be able to get a mortgage immediately after a bankruptcy if you can afford the large down payment and high interest rates typically required with non-qualified mortgage programs. If you have a Chapter 7 bankruptcy, you will need to wait at least 4 years after a court discharges or dismisses your bankruptcy to qualify for a conventional loan. However, you will need to wait 2 years after a Chapter 7 bankruptcy to qualify for an FHA or VA loan. If you have a Chapter 13 bankruptcy, you will need to wait 2 years after a court discharges or dismisses your bankruptcy to qualify for a conventional loan. However, you will need to wait 1 year after a Chapter 13 bankruptcy to qualify for an FHA or VA loan.