Waiting periods depend on the type of loan and are subject to underwriting approvals.
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
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
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
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
Loan programs are available only to qualified borrowers and are subject to change without notice. Some restrictions may apply.