| Foreclosure | 7 Years from date completed to the disbursement date of new loan | |
| Deed-in-Lieu of Foreclosure or Short Sale | 4 Years from either the date of sale or from the completion date to the disbursement date of the new loan | |
| Prior Loan Modification | 2 Years eligible with Fannie Mae DU approval | |
| Chapter 13 Bankruptcy |
2 Years from discharge date
4 Years from dismissal date
|
|
| Chapter 7 Bankruptcy |
4 Years from discharge or dismissal date | |
| Multiple Bankruptcy Filings in the Last 7 Years |
5 Years from last discharge or dismissal date | |
| Jumbo Loan | Follow requirements specific to the proposed loan product |
Foreclosure Deed-in-Lieu of Foreclosure |
2 Years from date completed and title transferred back to lender | |
| Pre-Foreclosure or Short Sale | 2 Years from credit approval date to date sale closed and title transferred to new owner | |
| Prior Loan Modification | Must have a 12-month satisfactory credit history after the event | |
| Chapter 13 Bankruptcy |
1-Year payout has elapsed with all payments made on time and permission obtained from court for new mortgage No wait time if discharged or dismissed
|
|
| Chapter 7 Bankruptcy |
2 Years from discharge or dismissal date | |
| Consumer Credit Counseling |
1-Year payout has elapsed, payments made on time, and agency permission for a new mortgage |
|
Foreclosure
Deed-in-Lieu of Foreclosure
|
3 Years from date completed and title transferred back to lender | |
| Pre-Foreclosure or Short Sale | 3 Years from the date of title transfer to FHA case number assignment | |
| Prior Loan Modification | No wait period, but past 12 months' credit history must have no late payments | |
| Chapter 13 Bankruptcy |
1-Year payout has elapsed with all payments made on time and permission obtained from court for new mortgage No wait time if discharged or dismissed
|
|
| Chapter 7 Bankruptcy |
2 Years from discharge or dismissal date | |
| Consumer Credit Counseling |
1-Year payout has elapsed, payments made on time, and agency permission for a new mortgage |
|
Foreclosure
Deed-in-Lieu of Foreclosure
|
3 Years from date completed and title transferred back to lender | |
| Pre-Foreclosure or Short Sale | 3 Years from credit approval date to date sale closed and title transferred to new owner Less than 3 years may be eligible if all mortgage and installment debt paid on time within the 12 months prior to the sale |
|
| Prior Loan Modification | 3 Years from modification completion date | |
| Chapter 13 Bankruptcy |
1-Year payout has elapsed with all payments made on time and permission obtained from court for new mortgage
No wait time if discharged or dismissed
|
|
| Chapter 7 Bankruptcy |
3 Years from discharge or dismissal date | |
| Consumer Credit Counseling |
1-Year payout has elapsed, payments made on time, and agency permission for a new mortgage |
