How Long Do I have to wait after a Foreclosure to Purchase

Hey there, Teresa Tims, TheSocalLoanPro.com, answering all of those tough questions in mortgage lending in Southern California since 1998.  “How long do I have to wait to purchase a home after I’ve had a foreclosure”?  Let’s get to it! 

With conventional home loans, Fannie Mae, Freddie Mac, it’s going to be 7 years after foreclosure.

FHA 3 years- after foreclosure

VA 2 years- After Forclosure

There is something called an extenuating circumstance provided after a foreclosure, which would possibly reduce the time, but it’s very, very strict. It would be due to death or serious injury or illness Only.

For answers to questions like this and many more, don’t hesitate to pick up the phone and give me a call at 909-920-3500. I’d love to hear from you.  Also be sure to subscribe to our Newsletter