Waiting Periods to Buy a Home After a Short Sale or Foreclosure
Recently I found out the waiting period to buy a home after a Short Sale or Foreclosure wasn't that bad and thought it would be good info to share. So here is a list of the waiting periods.
Waiting Period to Buy After a Short Sale:
VA Loan - 2 Years from completion date
FHA Loan - 3 Years from completion date
Conventional Loan - 2 Years with a minimum of a 20% down payment. 4 Years with a minimum of a 10% down payment. 7 Years with less than 10% down payment.
Waiting Period to Buy After a Foreclosure:
VA Loan - 2 Years from discharge date
FHA Loan - 3 Years from completion date
Conventional Loan - 7 Years from completion date
Remember, this is just the waiting periods, there are still lender guidelines a buyer has to go through for full loan approval. If you know anyone who would be interested in the info, please forward them this blog post. Also if you have any questions about San Diego Real Estate, please let me know. Thank you.
Waiting Period to Buy After a Short Sale:
VA Loan - 2 Years from completion date
FHA Loan - 3 Years from completion date
Conventional Loan - 2 Years with a minimum of a 20% down payment. 4 Years with a minimum of a 10% down payment. 7 Years with less than 10% down payment.
Waiting Period to Buy After a Foreclosure:
VA Loan - 2 Years from discharge date
FHA Loan - 3 Years from completion date
Conventional Loan - 7 Years from completion date
Remember, this is just the waiting periods, there are still lender guidelines a buyer has to go through for full loan approval. If you know anyone who would be interested in the info, please forward them this blog post. Also if you have any questions about San Diego Real Estate, please let me know. Thank you.
Paul Caparas
Broker Associate
Cell: 858-349-2390 | E-Fax: 619-209-7597
paul@paulcaparas.com | www.PaulCaparas.com
CA DRE # 01397640
Selling San Diego Real Estate since 2003
Paul Caparas
DRE # 01397640Call or Text:
858-349-2390
