How Long Do I Wait With a Foreclosure to Purchase

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

  • By Teresa Tims
  • September 13, 2019
  • 0 Comments

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! 

How Long Do I Wait With a Foreclosure to Purchase

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

About Author: Teresa Tims

Teresa Tims is President of TDR Mortgage in Charming Downtown Upland CA. She prides herself in offering quality home loan products, competitive pricing and knowledgeable assistance when helping her clients select a home loan. Teresa is a life-long resident of the Inland Empire. Read More