Needless to say, because of the bankruptcy, if you are applying for a mortgage in San Jose right away, your credit may still not be as good as you wish and you will be charged higher interest rates. However, if you have done your part to stay on top of all your payments and not over extending yourself after the bankruptcy, you will be able to get a mortgage approved at a reasonable interest rate, even after bankruptcy and especially, after the two year waiting period.

Know then that once you buy the house, the only way to lower the interest rate is by refinancing. Refinancing takes time and costs money. So, if you find yourself in a situation in which you will not be able to make the payments due to the high interest rate our advice is to wait until you repair your credit first. Once your credit score is better you can start trying to get a mortgage approved. In the meantime, you can rent before buying a house. For more information about getting started with your bankruptcy, call a knowledgeable San Jose attorney at Sagaria Law.