A question I often get from people who have filed bankruptcy, had a short sale or foreclosure is, “How long do we have to wait to qualify for another mortgage.” What kind of new loan you can get will differ according to how long it has taken to heal your credit score.
The chart I have provided below can be used as a guide for how you might have to wait. While you are in the waiting period, it is important to keep all payments current and maintain a good credit history.
In order to improve your ability to qualify for a mortgage, a recommended lender can give you specific information based on your situation and make helpful suggestions. The pre-qualification process should begin before you even start looking for a home. Time constraints listed in the graphic below can vary based on current requirements and any extenuating circumstances.
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