You're definitely onto something with credit unions. I've found they're generally more willing to listen and actually consider your circumstances, rather than just ticking boxes. Had a client once who'd gone through bankruptcy about three years prior—big banks wouldn't even entertain the idea, but a local credit union took the time to really dig into their financial history and ended up approving them with pretty reasonable terms.
As for the bigger down payment vs. waiting it out, there's no one-size-fits-all answer. A larger down payment can obviously help smooth things over with lenders, but rushing into homeownership too soon after bankruptcy can be risky if you're not fully stable yet. I'd say it's worth taking a step back and honestly assessing your current finances and comfort level. Sometimes waiting an extra year or two to rebuild your credit and savings can make the whole process way less stressful...
Credit unions can be great, but they're not miracle workers either. Had a friend who got approved post-bankruptcy, but the terms weren't exactly amazing. I'd lean toward waiting a bit longer—less stress and better rates down the road usually beat rushing in now...
Yeah, credit unions can be decent, but they're definitely not a magic bullet. Had a client once who was about two years post-bankruptcy and eager to jump back into homeownership. He got approved, sure, but the interest rate was pretty rough—like noticeably higher than average. He went ahead anyway because he felt renting was just throwing money away. Fast forward a couple years, and he's kicking himself because rates dropped and refinancing wasn't as straightforward as he'd hoped.
Honestly, waiting a bit longer usually pays off. Building up your credit score and saving for a bigger down payment can make a huge difference in the long run. I get the urgency—renting can feel frustrating—but rushing into a mortgage with less-than-ideal terms can end up costing way more stress (and cash) down the line. Patience isn't fun, but sometimes it's the smarter play...
Good points there—I'm in a similar spot myself. I'm leaning toward waiting another year or two to boost my credit and build a bigger down payment. Jumping in too soon feels risky, especially after bankruptcy...better safe than sorry, right?
"Jumping in too soon feels risky, especially after bankruptcy...better safe than sorry, right?"
Definitely makes sense to take your time. I've worked with a couple of people who've bounced back from bankruptcy, and honestly, patience pays off. Your credit score improving even a little bit can mean much better mortgage rates down the line, saving you thousands long-term. Just keep building solid habits—paying bills on time, limiting new debt—and you'll be amazed at the options that open up after a year or two. Slow and steady usually wins this race...
