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Waiting Periods

If you have gone through a foreclosure, bankruptcy, or a short sale, it’s important to know the mandatory waiting period until you can get a home loan again. The following information will let you know how long you need to wait based on the type of loan you have.

Foreclosure

Fannie Mae1
7 Years From Completion Date

Freddie Mac1
4-7 Years With Max 90% LTV2
7+ Years With Max Financing

FHA
3 Years From Completion Date

VA
2 Years From Completion Date

USDA Rural
3 Years From Completion Date

Short Sale Deed-In-Lieu

Fannie Mae1
4 Years No LTV2 Restriction
2 Years with Documented Extenuating Circumstances

Freddie Mac1
4 Years From Close Date For Short Sale
4 Years For Deed-In-Lieu

FHA
3 Years From Close Date

VA
2 Years From Close Date

USDA Rural
3 Years From Close Date

Ch. 7 Bankruptcy

Fannie Mae1
4 Years From Discharge Date

Freddie Mac1
4 Years From Discharge Date

FHA
2 Years From Discharge Date

VA
2 Years From Discharge Date

USDA Rural
3 Years From Discharge Date

Ch. 13 Bankruptcy

Fannie Mae1
2 Years From Discharge Date
4 Years From Dismissal Date

Freddie Mac1
2 Years From Discharge Date
4 Years From Dismissal Date

FHA
1 Year Of Payout Must Elapse
Payment Performance Must Be Satisfactory
Buyer Must Receive Permission From The Court To Enter Into Mortgage

VA
1 Year Of Payout Must Elapse
Payment Performance Must Be Satisfactory
Buyer Must Receive Permission From The Court To Enter Into Mortgage

USDA Rural
1 Year Of Payout Must Elapse
Payment Performance Must Be Satisfactory
Buyer Must Receive Permission From The Court To Enter Into Mortgage


All information is subject to change at any time without notice. This waiting period matrix is a reference for those who have gone through a foreclosure, short sale, or bankruptcy. Depending on the type of loan you have, this chart will help you determine how long you need to wait until you can get a home loan again. Depending on the loan program for which you are applying, there may be additional overlays and longer waiting periods. Additionally, Fannie Mae Desktop Underwriter or Freddie Mac Loan Prospector approval will also be required. This webpage is for information purposes only and is not an advertisement to extend customer credit as defined by Section 226.2 Regulation Z. It is not intended to provide legal advice. Waiting period time frames may be less in situations with extenuating circumstances.

1If a mortgage debt has been discharged through bankruptcy, even if a foreclosure action is subsequently completed to reclaim the property in satisfaction of the debt, the borrower is held to the bankruptcy waiting periods and not the foreclosure waiting period. You must obtain documentation to verify the mortgage debt was in fact discharged as part of the bankruptcy.

2LTV(Loan-to-Value): The percentage of the property's value that is borrowed.