Yes, but you’ll need to accomplish a few things first. Before you can hope to get a home loan, you need to receive your discharge from the bankruptcy court. Then, you must wait for a certain period of time. How long you wait depends on the type of bankruptcy you file. Chapter 7: Wait at least 4 years before you can qualify for a conventional loan. To be eligible for a USDA loan, you must wait 3 years. To qualify for an FHA or VA loan, you must wait 2 years.