Waiting periods after bankruptcy and foreclosure.

Waiting periods after bankruptcy and foreclosure. There are many different loan programs offered and each has their own unique waiting period requirements. Today I will focus on three of the most popular loan products VA, FHA, and Conventional loans. The waiting periods before the borrower is able to once again qualify are as follows:

VA loans: Require two years after bankruptcy discharge and 2 years after foreclosure completion. There may be some exceptions to these waiting periods in the case of an extenuating circumstance out of the Veterans control (case by case basis). My team and I are VA loan experts and are here to help you navigate the VA loan process. Over the past two decades we have seen it all and promise to make the loan process as stress free and as seamless as possible.

FHA Loans: Require two years after a bankruptcy discharge and three years after a foreclosure completion. Just as in the case of VA loans, there may be some exceptions available due to extenuating circumstances that can be reviewed on a case-by-case basis. My team and I have been assisting borrowers with their FHA loan for over two decades and are here to help you process your FHA loan in a timely manner.

Conventional loans: Require 4 years after bankruptcy discharge and 7 years after foreclosure completion. Fannie Mae and Freddie Mac are not as flexible as FHA and VA loans when it comes to the waiting periods after bankruptcy and foreclosure, but exceptions are granted from time to time. We are here to help you find any loopholes that exist and promise to make the loan process and smooth as possible.