Waiting periods after a Foreclosure, Short Sale or Bankruptcy

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.

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.