Waiting Periods After a Foreclosure:

Conventional

7 years from completion of foreclosure

FHA

3 years from completion date, FHA pays the initial claim & clears CAIVR

VA

2 years from foreclosure date

USDA Rural

3 years from completion date

Jumbo

5-7 years from trust deed rate

Waiting Periods After a Short Sale:

Conventional

2 yrs-max 80% LTV
4 yrs-max 90% LTV
7 yrs-max LTV allowable

FHA

3 years from completion date if in default at time of sale

VA

2 years from completion date

USDA Rural

USDA has no specific information- assume same as foreclosure

Jumbo

5-7 years from trust deed rate

Waiting Periods After Chapter 7 Bankruptcy:

Conventional

4 years from discharge/ dismissal

FHA

2 years from discharge - AUS approval

VA

2 years from discharge date

USDA Rural

3 years from discharge date

Jumbo

5-7 years from discharge date

Waiting Periods After Chapter 13 Bankruptcy:

Conventional

2 years from discharge
4 years from dismissal

FHA

1 yr of payment period must have elapsed with satisfactory payment performance and permission from the court

VA

1 day from completion of payment plan if all payments were satisfactory and with permission from the court

USDA Rural

3 years from discharge date

Jumbo

5-7 years from discharge date

All waiting periods are subject to underwriting approvals. These programs are available only to qualified borrowers and are subject to change without notice. Some restrictions may apply.

Set up a Personal Mortgage Consultation

No Cost. No Obligation.

If you had a past foreclosure, short sale or bankruptcy and are considering a purchase in the future, it's important to know your options. Before you start your home search, talk to a mortgage professional.  Contact us to schedule a complimentary private mortgage consultation.

  • Understand under writer requirements and approvals
  • Overcome credit issues so that you can get the lowest possible rate
  • Get a letter of pre-qualification

Request an appointment online or call our office during regular business hours at (215) 885-4828.