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Waiting Periods

Adverse Credit Events

FHA

Conventional

VA

USDA

Foreclosure

3 years from completion date

2 years-80% max LTV

4 years-90% max LTV

7 years-max available

2 years from date of discharge/completion

After 3 years and only with Extenuating Circumstances

Deed in Lieu

3 years from completion date

2 years-80% max LTV

4 years-90% max LTV

7 years-max available

2 years from date of discharge/completion

After 3 years and only with Extenuating Circumstances

Short Sale

3 years from completion date ***IF No late payments reported on credit then 1 year from completion date with Extenuating Circumstance***

2 years-80% max LTV

4 years-90% max LTV

7 years-max available

2 years from date of discharge/completion

After 3 years and only with Extenuating Circumstances

Chapter 7

2 year from date of discharge

4 years from date of discharge

2 years from date of discharge

3 years from date of discharge

Chapter 13

1 year of payout must have elapsed, and have court approval

2 years from date of discharge

4 years from date of dismissal

Upon completion of Ch-13 with satisfactory payment history

1 year from completions of payments with satisfactory history

Consumer Credit Counseling

1 year of payout must have elapsed, and have court approval

12 month satisfactory payment history & counseling agency approval of new credit

1 year from completions of payments with satisfactory history

Multiple BK in last 7 years

5 years from most recent