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Can I refinance 3 years after foreclosure?

Will my rate be as good as anybody else or will there be a hit becuase of BK? by Kevin_Moore146 from Agoura Hills, California. May 5th 2015 Reply


Mike George (Mike George)
#140 ranked lender in California - 7 contributions

Kevin,Good afternoon. You can refinance 3 years after a foreclosure with a FHA or VA (2 years) loan. You cannot refinance 3 years after a foreclosure with conventional financing. The waiting period for conventional financing is 7 years. Please let me know if you have any questions.Mike GeorgeAgape Mortgage(661) 324-2427

May 5th 2015
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Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions

FHA will allow a refinance after a foreclosure after 3 years. The BK will more than likely have a affect on your credit score and therefore may affect the rate. My name is Elden Lewis with Guaranteed Rate in Indianapolis, IN. If you need any further assistance please feel free to reach out to me at 317-225-4868. https://www.guaranteedrate.com/eldenlewis http://www.indianapolismortgageguy.com/

May 5th 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

FHA allows you to refinance 3 years past foreclosure, but conventional will require a 7 year waiting period.. The rate will be based off your credit score, but for FHA financing, there is not a major difference in rates for a 750 borrower vs. a 650 borrower.. but to answer your question, there are no pricing hits for borrowers with a BK.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

May 5th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

Was it a bankruptcy and a foreclosure both, or just the foreclosure? The rate will be based on your credit score and that is likely still being affected by the foreclosure and/or BK.

May 5th 2015
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#136 ranked lender in Florida - 796 contributions

3 years for FHA and 7 for Conventional as others have pointed out. We offer the best rates and service in CA, so feel free to call me Ralph Guertin 954-274-7725 or email at ralph@absolutelowrates.com

May 6th 2015
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Ron Pippin (RonPippin)
#26 ranked lender in Utah - 158 contributions

Yes and maybe. Depends on the type of home financing, credit score, down payment and other factors.

May 6th 2015
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