Even if you have good credit, it can be difficult to get a mortgage in today's lending market. If you have bad credit or a bankruptcy, you may think it is impossible to get a mortgage. But you would be wrong. The truth is that it is very possible to get approved for a mortgage after you've filed bankruptcy. In fact, you have a better chance of getting a mortgage in bankruptcy than you do if you just have bad credit.

In order to get a bankruptcy mortgage, you will need to do several things. The first thing that you should do is honor the terms of your bankruptcy. If you are required to make payments, make all payments in full and on time. After about two years, you will be able to start applying for credit again.

Once you start receiving offers for credit, be careful. It may be tempting to go out and use your new found credit to purchase things that you have been doing without during your bankruptcy. But you shouldn't. When you apply for a mortgage, your lender will want to know that you have been responsible with your finances. They want to be sure that you have learned from your bankruptcy and that you will be able to pay for your mortgage. If you have too many other obligations, they will assume that you are overextending yourself again and that you are not being responsible at all.

You will also want to make sure that you have a down payment. A down payment not only lowers the amount that you will have to finance, but it also shows lenders that you are serious about purchasing a home. The best down payment is the kind that you've saved for yourself. But if you cannot afford to save for a down payment, you can apply for down payment assistance from one of the community action programs in your area. You may even be able to borrow the down payment from a family member. However, most of the time lenders want the down payment to be a gift and not something that you have to pay back.