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Waiting periods after a bankruptcy and/or 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)

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.

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 but exceptions are granted from time to time.

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Andre Enriques
License # NMLS 220937
DRE # 01713544

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Andre Enriques Mortgage Banker - VA Loan Expert, a dba of Anchor Funding Inc

Chula Vista Office
Phone: (619) 323-2066
Cell (619) 208-6499
891 Kuhn Drive, Suite #204
Chula Vista, CA 91914

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Phone: (619) 208-6499
6336 Greenwich Dr, Suite A
San Diego, CA 92122

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NOT ALL APPLICANTS QUALIFY. First Priority Home Loans is a DBA of Anchor Funding, Inc. is licensed by The
California Bureau of Real Estate #01276087. FHA Non-supervised lender #00257-0000-5
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