Time to Buy Again5/29/2019
For people who have experienced a distressed sale of a home and gotten their finances and credit back in shape, there can still be an unanswered question of "How long do we have to wait to qualify for another mortgage." The loan types for the new loan will differ in amounts of time based on the event.
The different lending authorities, VA, FHA, Fannie Mae (FNMA) and Freddie Mac (FHLMC), establish their own waiting periods. A borrower may be eligible to qualify for one type of mortgage before another type, even though during this waiting period, that the person was current on all payments and maintained a history of good credit.
The following chart indicates how long a person might have to wait.
We want to be your personal source of real estate information and we're committed to helping from purchase to sale and all the years in between. Call us at (720) 231-5200 for lender recommendations.