Buying a House After… |
Conventional Loan |
FHA Loan |
VA Loan |
USDA Rural Loan |
Foreclosure |
7 Years from Completion Date | 3 Years from Completion Date | 2 Years from Completion Date | 3 Years from Completion Date |
Short Sale |
4 Years from Completion Date | 3 Years from Completion Date
*Borrower can qualify with no waiting period if short sale was complete with no loan programs & borrower has extenuating circumstances* |
2 Years from Completion Date
*Borrower can qualify with no waiting period if short sale loan was not a VA loan and borrower has extenuating circumstances* |
3 Years from Completion Date |
Deed in Lieu |
2 Years with 20% down & extenuating circumstances
4 Years with 10% down 7 Years Standard Eligibility |
3 Years from Completion Date | 2 Years from Completion Date | 3 Years from Completion Date |
Chapter 7 Bankruptcy |
4 Years from Discharge or Dismissal Date
*If mortgage was included in BK, then use foreclosure wait period* |
2 Years from Discharge Date
*If mortgage was included in BK, then use foreclosure wait period* |
2 Years from Discharge Date | 3 Years from Discharge Date |
Chapter 13 Bankruptcy |
2 Years from Discharge Date
4 Years from Dismissal Date |
1 Year of the payout must elapse & payment performance must be satisfactory; buyer must receive permission from the court to enter into mortgage | ||
* The information contained in this website is designed to be informational and educational in nature. It is not intended to provide legal advice. Information is considered reliable but not guaranteed. This is not a prequalification, preapproval, loan approval or commitment to lend.
