If You Had a Foreclosure or Short Sale, You Can Still Buy a Home!


​Here are the Waiting Periods:
​Foreclosure:​​

Seven years for a government-backed Fannie Mae or Freddie Mac loan.
Three years for a Federal Housing Administration (FHA) loan.
One to two years for a FHA loan if there were extenuating circumstances (such as illness or death of a wage earner).
​
Short sale:​

Seven years for Fannie Mae or Freddie Mac with less than 10 percent down.
Four years for Fannie Mae or Freddie Mac with 10 percent down.
Two years for Fannie Mae or Freddie Mac with 20 percent down.
Three years for an FHA loan.
​
Deed in lieu of foreclosure:​

Seven years for Fannie Mae or Freddie Mac with less than 10 percent down.
Four years for Fannie Mae or Freddie Mac with 10 percent down.
Two years for Fannie Mae or Freddie Mac with 20 percent down.
Three years for FHA.
One to two years for FHA loan with extenuating circumstances.



Source: Fannie Mae, Department of Housing and Urban Development