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Is there a waiting period after a foreclosure on a conventional loan.

by ltmjh528494 from Cape Coral, Florida. Mar 23rd 2017 Reply


Sara Deere (Saraloveshomeloans)
#1 ranked lender in Kansas - 516 contributions

Yes! The waiting period for a Conventional loan after a foreclosure is 7 years. You might consider an FHA loan which is 3 years after a foreclosure.

Mar 24th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,053 contributions

Yes.. there are mandatory waiting periods on all loan products if you have a foreclosure.. FHA can be 1 to 3 years.. VA is 2 to 3 years.. USDA is 3 years.. and conventional is 7 years.. however, if you have a large down payment, there are portfolio lending programs which might allow for a shorter waiting period.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Mar 24th 2017
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Craig Prickett (cpmtgnow)
#160 ranked lender in Florida - 94 contributions

Yes there is a waiting period for Fannie Freddie Conventional of 7 years. At Caliber we have our portfolio product that allows only 1 day after foreclosure. Our Portfolio loan is a conventional loan. As mentioned below from other loan officers Govt has a 3 year. There are other considerations as well like for instance was your foreclosure included in a Bankruptcy then the waiting period lessens. Call me or visit my web site for a great pre approval . Thank you www.firstfloridafin.com

Mar 29th 2017
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