The completion date matters
The applicable clock may begin at discharge, dismissal, sale, deed transfer, or another documented completion date. The credit report alone may not show the date underwriting needs.
Credit and Income
Buying again after bankruptcy or foreclosure
Bankruptcy, foreclosure, deed in lieu, or short sale does not always mean your homeownership journey is over. Waiting periods vary by event, loan program, dates, documentation, and any eligible extenuating circumstances.
Every program is different
Conventional, FHA, VA, USDA, and non-QM programs have different requirements. Chapter 7 and Chapter 13 bankruptcies may also be treated differently.
Rebuilding still matters
A completed waiting period does not guarantee approval. Re-established credit, payment history, income, assets, debt-to-income ratio, and the full loan file still count.
Do not assume seven years
Gather the discharge, dismissal, foreclosure, deed, or short-sale documents and let me review the actual timeline. There may be a responsible path sooner than you think.
Written by Marta Lillard
25+ years of mortgage experience, explained in plain English.
Mortgage Broker · First Coast Mortgage Funding · NMLS #879436 · Licensed in Florida and Georgia
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