Timelines to Buy Again.................. | Blog

  • Felica Jerbasi on Facebook
  • Felica Jerbasi on LinkedIn
  • Follow Felica Jerbasi on Twitter
blog_2.jpg

The following are the estimated times that former home owners must wait to re-qualify for financing after a foreclosure, short sale, deed in lieu, or bankruptcy.

CONVENTIONAL MORTGAGE FROM FREDDIE MAC:

Short sale or deed-in-lieu: 4 years

Foreclosure: 7 years

CONVENTIONAL MORTGAGE FROM FANNIE MAE:

Short sale: 2 years with 20% down

Foreclosure: 7 years

FEDERAL HOUSING ADMINISTRATION ( FHA):

Short sale or foreclosure: 1 to 3 years

DEPARTMENT OF VETERANS AFFAIRS ( VA LOAN):

Short sale or foreclosure: 3 years

JUMBO MORTGAGE:

Short sale or deed -in-lieu: 5 years

Foreclosure: 7 years

Short sales and foreclosure page s