Buying A Home After Foreclosure at Buying

Buying A Home After Foreclosure. Having a foreclosure sticks to your record, so you will have to finish the waiting period before applying again. However, if you’re applying for a va loan or an fha loan , that waiting period can be as little as two years.

The waiting period is 3 years and can be as low as 1 year with an extenuating circumstance. Fha loans generally ask for 5 years. Every mortgage loan type requires a waiting period before buying a home after foreclosure.

What Happens After Filing For Bankruptcy? Symmes Law Group

For a conventional loan, lenders require that borrowers wait at least seven years since their foreclosure was complete. Buying a home after going through a foreclosure is challenging but not impossible. But a recent foreclosure, particularly one that occurred only. The days of a foreclosure preventing you from becoming a homeowner for at least 7 years is behind us.