Timeframes to Buy Again

  Conventional Loans FHA Loans
Foreclosure 7 years from the date foreclosure completed and trustee sale recorded.

3 years from teh date foreclosure completed and trustee sale recorded.

* Less than 3 years but after 12 months of completed foreclosure date acceptable in the result of extenuating circumstances.

Short Sale

7 years from date of sale for max loan-to-value eligibility.

4 years from date of sale with 10% down.

2 years from date of sale with 20% down.

3 years from date of sale.

* Less than 3 years but after 12 months of completed foreclosure date acceptable in the result of extenuating circumstances.

Chapter 7 Bankruptcy 4 years from discharge date.

2 years from discharge date.

* Less than 2 years but after 12 months of completed foreclosure date acceptable in the result of extenuating circumstances.

Chapter 13 Bankruptcy 2 years from discharge date. 1 year payout period under bankruptcy has elapse and payment performance is satisfactory.

 

* for information only and subject to change. For current and accurate information, please contact us for a meeting with a loan originator.